Can I recover losses from investments with former MML Investors Services, LLC broker Kenan Bell (CRD# 5371532) regarding mutual fund losses? He has been registered with MML Investors Services, LLC in Lynchburg, Virginia, from 2019 to 2022, when he was terminated regarding, “registered representative did not follow company policy with respect to customer signatures on an account document.”
Previously, he was registered with Foreside Fund Services, LLC in Lynchburg, Virginia, from 2017 to 2019. Prior to that, he was registered with Unified Financial Securities, LLC in Lynchburg, Virginia, from 2015 to 2016.
Kenan Bell Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
April 2023. “The complainant alleges that, beginning in August 2020, the rep provided her with investment advice related to stock sales and her retirement accounts, which he wasn’t qualified to do, and which caused her to lose money.” The case is currently pending. The complaint was regarding common and preferred stocks and mutual funds losses, and it took place while he was registered with MML Investors Services, LLC.
March 2022. “The complainant alleges that the rep never disclosed to her that he was moving all of her money out of her existing mutual fund all at once, nor where the funds were moved to, nor that there would be capital gains taxes on this transaction. She further alleges that the rep moved other funds out of an account that she didn’t want touched and into another another account that she doesn’t have an understanding about, other than it is losing money. The activity appears to have taken place in 2021.” The case was settled for $30,000. The complaint was regarding mutual fund losses.
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, MML Investors Services, LLC may be liable for investment or other losses suffered by Kenan Bell’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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