Bob Boyer Barred, Involved In MML Investor Disputes

Barred Broker Bob Boyer Involved In MML Investor Disputes

The Financial Industry Regulatory Authority (FINRA) contains important disclosures in regard to securities broker Robert Joseph Boyer (“Bob Boyer”) (CRD#: 5787312, Wayne, Pennsylvania). Evidently, Boyer worked for securities firms MSI Financial Services Inc. (2012 to 2017), MML Investors Services LLC (2017 to 2020), and J. Alden Associates Inc. (2021). Notably, FINRA barred Boyer as a securities broker to resolve allegations of his refusal to cooperate in a FINRA investigation. In addition, two investors disputed his sales practices. Here’s more about these disclosures.

FINRA Bars Bob Boyer Amid Misconduct Investigation

It appears that FINRA indefinitely barred Bob Boyer as a securities broker, meaning that he cannot work for a securities firm that is a member of FINRA (most securities firms in the country). This is to resolve allegations that he refused to provide information and documents to FINRA following its request. It appears that in April 2021, FINRA wanted to identify if Boyer engaged in sales practice violations, but Boyer refused to cooperate.
FINRA’s investigation commenced when it received an October 2020 notification from MML Investors Services about a client who complained about Bob Boyer. The securities firm disclosed that a client alleged that Boyer opened several accounts that the client was not meant for. Allegedly, the client did not sign traditional life insurance applications, and one or more applications reportedly contained false information. Ultimately, MML Investors Services terminated Boyer as a securities broker in December 2020. At that time, the securities firm mentioned that it discharged him because of the internal review of the client’s complaint.

MML Investors Services Client Files Suitability Dispute About Boyer

Evidently, a client of MML Investors Services lodged a dispute about Bob Boyer in October 2020. Supposedly, in 2019, Boyer created a number of accounts for the client, who was in no financial position to purchase them. In addition, the client claimed that the applications for products contained false information. For this reason, the client reportedly sustained damages on mutual funds and insurance products. It appears that MML Investors Services paid $78,390 to this client to resolve the dispute about the broker.

Client Of MML Investors Services Indicates That Bob Boyer Sold Inappropriate Annuity

It appears that a second client of MML Investors Services disputed Bob Boyer’s sales practices. In this October 2018 complaint, the client alleges damages relating to a variable annuity product that Boyer sold in 2017. However, MML Investors Services denied this dispute.

Did You Lose Money By Investing Through Boyer?

Did Bob Boyer cause you to incur investment losses? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for hundreds of United States investors who experienced damages from their financial advisors or securities brokers. Please note that Boyer denies all allegations of his sales practice violations.