There are options for clients of former MSI Financial Services, Inc. broker Eric Tom (CRD# 1890823) who lost money related to annuity investment losses. He has been registered with MML Investors Services, LLC in East Hills, New York, since 2017. Previously, he was registered with MSI Financial Services, Inc. in East Hills, New York, from 1988 to 2017.
Eric Tom Customer Complaints
He has been the subject of 12 customer complaints between 2004 and 2022, seven of which were denied, and two were closed without action, according to his CRD report. The most recent complaints are regarding:
November 2022. “The complainant alleges that his Jackson National Individual Deferred Variable and Fixed Annuity contracts, that were purchased in January 2006, were mismanaged by his registered representative, which resulted in a loss of his retirement savings, and the registered representative breached his fiduciary duty, and contract, and made misrepresentations.” The case is currently pending. The complaint was regarding variable and fixed annuities, and it took place while he was registered with MSI Financial Services, Inc.
November 2020. “The complainant alleges that the investments that were sold to him in 2015 did not match his expressed financial objectives and he has lost money as a result.” The customer sought $100,000 in damages, and the case was settled for $47,500. The complaint was regarding real estate investment trusts (REITs), and it took place while he was registered with MSI Financial Services, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, MSI Financial Services, Inc. may be liable for investment or other losses suffered by Eric Tom’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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