According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Cody Keller (Keller), previously associated with MML Investors Services, LLC, has at least 3 disclosable events. These events include one customer complaint, 2 regulatory events, alleging that Keller recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $10,000.00 on October 07, 2025.
The complainant alleges that beginning in/and around August 2023, the registered representative made unauthorized financial decisions regarding her investments, and placed funds, without her knowledge or authorization into a whole life insurance policy. The complainant further alleges that if her money had been properly invested, she would have significant financial gains.
FINRA BrokerCheck shows a final customer complaint on March 19, 2025.
Without admitting or denying the findings, Keller consented to the sanction and to the entry of findings that he failed to provide information and documents requested by FINRA in connection with its investigation into the circumstances giving rise to the Form U5s filed by his member firms. The findings stated that one of the firms permitted Keller to resign after it discovered that he paid a customer from his personal bank account in what appeared to be an attempt to avoid a customer complaint, engaged in an undisclosed and unapproved OBA, and did not provide factual responses when asked about his actions and activities. The second firm discharged Keller for failing to disclose a regulatory action with the state of Pennsylvania on his U4.
FINRA BrokerCheck shows a final customer complaint on April 25, 2024.
Registered Representative violated PA statutes Pennsylvania polices by misrepresenting the benefits, advantages, conditions or terms of insurance policy and making, issuing, publishing or circulating untrue, deceptive or misleading advertisement, announcement or statement.
When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts.
Next, the advisor must have a reasonable understanding of the specific retail investor’s investment profile. The customer’s profile information generally includes an investor’s financial situation and needs; investments; assets and debts; marital status; tax status; age; investment time horizon; liquidity needs; risk tolerance; investment experience; investment objectives and financial goals; and any other information the retail investor may disclose in connection with the recommendation or advice. The Reg BI rule applies a fiduciary principles and requires an associated person to act in the retail investor’s “best interests” while barring the broker from placing their own financial interests and compensation incentives ahead of the investor’s best interest. Reg BI comes with different key obligations that associated persons must meet in dispensing advice. The care obligation requires registered representatives to carefully evaluate investment options, review the risks and rewards of the investment or service, compare similar products, and ensure that the recommended investment is appropriate for the customer and in the retail investor’s best interest.
Next, the broker must understand the investor’s investment background and profile. A customer’s profile includes information that describes the investor’s financial situation and needs. Information here will include their outside securities accounts and investments; relevant assets and debts; tax bracket; age; liquidity needs; risk tolerance; investment time horizon; experience with investing; investment objectives; and any other relevant information that the investor may choose to disclose pertinent to their situation. Finally, the financial advisor must use their knowledge of both their reasonable diligence into investment options as well as their knowledge of the investor’s client specific needs to consider reasonably available investment options. Those investment options must allow the broker to determine that there is a reasonable basis that the recommendation is in the retail investor’s best interest. Finally, an advisor must also analyze the specific account features offered and determine whether their client can benefit from them in order to meet their care obligations. While securities and investments come with costs that must be considered, the type of securities account also has changes the cost equation for the investor and can change the retail customers’ future investment returns. The associated person must consider the different types of securities accounts for their client and determine whether or not the cost or features are reasonably needed for the client or if the customer’s current account costs and features are superior to solutions available to the advisor. In any event, the type of account and services recommended must be in the investor’s best interest.
Keller has been in the securities industry for more than 7 years. Keller has been registered as a Broker with MML Investors Services, LLC since 2023.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.