Taylor Hoskins Allegedly Misrepresented Unsuitable RILA

Taylor Hoskins (CRD #: 6277263), a broker registered with SagePoint Financial, allegedly recommended an unsuitable annuity, according to his BrokerCheck record, accessed on June 1, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On March 11, 2023, an investor alleged that Taylor Hoskins misrepresented an unsuitable registered index-linked annuity (RILA). This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an outside review. Investors can potentially recover their losses by seeking out FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile describes their risk tolerance, age, and other characteristics.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

FINRA Suspension

On March 18, 2020, Taylor Hoskins consented to the entry of findings that he allegedly used his MML Investors Services login credentials to access the firm’s third-party system for storing client information and improperly retained this information after moving to his new firm.

According to a Letter of Acceptance, Waiver & Consent (AWC), Taylor Hoskins allegedly accessed this third-party system multiple times between November 10, 2017, and December 5, 2017, while registered with another firm.

He allegedly used the nonpublic personal client information to transition clients to his new firm, and allegedly also downloaded and printed at least one client’s information.

The AWC concluded that these allegations constituted violations of FINRA Rule 2010.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Taylor Hoskins consented to the following sanctions:

• $5,000 fine
• 10 business-day suspension

His suspension ran from April 6 to April 20, 2020.

You can read the full AWC here.

Background Information

Taylor Hoskins has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Taylor Hoskins is a registered broker in 12 states and a registered investment adviser in California, Mississippi, and Wisconsin.

He has also worked for MML Investors Services (CRD#:10409) and MSI Financial Services (CRD#:14251).

Kurta Law Can Help

If you worked with Taylor Hoskins and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.