Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Ilgner (Ilgner), currently associated with MML Investors Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ilgner recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on March 22, 2022.
The complainant alleges that the rep misinformed him about the variable annuity that he purchased (in 2021), stating that the rep told him at the time of sale that there would be no tax consequences when replacing his whole life insurance policy with this variable annuity. However, the complainant states that he has since received a 1099, which indicates that taxes are owed. He states that he wouldn’t have agreed to this transaction had he known there would be taxes and he wants the transaction reversed.