$17.5mill Complaint Against DONALD P ROBBINS, ADAM T TAFF & EDWARD C JORDAN

A recent article from The Charlotte Observer states that three Charlotte, North Carolina, financial advisors are facing a $17.5 million investor complaint over a life insurance financing strategy, according to a Financial Industry Regulatory Authority (FINRA) filing.

DONALD P ROBBINS, president of ROBBINS FINANCIAL GROUP (under MML INVESTORS SERVICES) is named in a “Customer Dispute” alleging $17.5 million in damages. Robbins is registered both as a broker and investment advisor with FINRA. The customer dispute is available on FINRA’s website to the public.

The “Customer Dispute” listed on DONALD P ROBBINS’ FINRA BrokerCheck report dated 7/20/2026 alleges, “The complainants allege that, beginning in or around 2020, the representative was involved in a life insurance premium financing strategy that used securities accounts as collateral, limiting access to those assets so that they had to liquidate other securities to meet liquidity needs, causing financial harm and lost opportunity.”  The damage amount requested is $17.5 million.

Two other financial advisors at Robbins Financial, ADAM T TAFF and EDWARD C JORDAN, also are named in the same customer dispute. Taff is listed as a partner at ROBBINS FINANCIAL GROUP.

The Charlotte Observer article states that around 2020, Robbins, Taff, and Jordan allegedly were involved in a life insurance premium financing arrangement using securities accounts as collateral.  Allegedly, this locked up assets and forced the liquidation of other investments to meet liquidity demands, according to the complaint filed against each of the advisors in July on the BrokerCheck portion of FINRA’s website. The complaints published on BrokerCheck do not include any other details, and the complainants are not named.

According to FINRA’s BrokerCheck, DONALD P ROBBINS has 25 years of experience in the securities industry and has been listed with four firms. Robbins has 4 disclosures on his FINRA CRD report.  A complaint filed in August 2016 alleged unsuitable product recommendations. That complaint resulted in a $230,000 settlement by mediation in 2017.

The Charlotte Observer writes that four months earlier in April 2016, Robbins was permitted to resign from NYLife Securities following an internal review of his business practices regarding the sale of life insurance, annuity and investment advisory products. "The concerns included a pattern of unsuitable transactions and violations of company policies,” according to a FINRA report. A 2008 complaint to FINRA against Robbins alleged he made unauthorized IRA and annuity withdrawals totaling $33,000, which was more than requested and created a tax liability. The case was settled in 2009 for $25,000.

DONALD P ROBBINS joined MML in 2016 following his departure from NYLife.

According to BrokerCheck, ADAM T TAFF has 15 years of experience, joining MML in 2011, and EDWARD C JORDAN has 10 years of experience, all with MLL. No other FINRA complaints have been filed against either advisor.

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Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis.