Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Bailey (Bailey), previously associated with MML Investors Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bailey recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $27,511.00 on March 25, 2020.
Customer alleges that the recommendation, in April 2015, to transfer the proceeds from an inherited IRA into a traditional IRA caused a mandatory distribution and tax liability. Customer requested reimbursement for the tax liability.