Russell Demarest Allegedly Failed to Follow Instructions

Russell Demarest (CRD #: 1077828), a broker registered with MML Investors Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on December 8, 2023. Keep reading if you have questions about his alleged conduct. 

On September 11, 2023, an investor alleged that Russell Demarest continually failed to follow instructions. He alleged her to take on more risk than she wanted. This allegedly was not in her best interest since she was close to retirement. 

The investor sought $96,865.21 but the dispute was denied. 

Investors should know, however, that firms can deny disputes without any external review. Our securities attorneys can still recover losses following a denial via FINRA arbitration. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 requires brokers to consider factors like an investor’s age, risk tolerance, and retirement status. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Russell Demarest has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 22 Direct Participation Programs Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 26 Investment Company Products / Variable Contracts Principal Examination 

He is a registered broker in 21 states and is a registered investment adviser in New Hampshire and Texas. 

Russell Demarest has registered as a broker with the following firms: 

• MML Investors Services (CRD #: 10409) 
• BayState Wealth Management (CRD #: 151664) 
• MSI Financial Services (CRD #: 14251) 
• New England Securities (CRD #: 615) 
• Parks Tuttle Financial Services (CRD #: 117100 
• Penn Mutual Equity Services (CRD #: 4031) 
• First Investors Corporation (CRD #: 305) 

Kurta Law Can Help 

If you have worked with Russell Demarest and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.