Curt Giacobbe Facing MML Investor Dispute

Investor At MML Alleges Sales Practice Violation By Broker Curt Giacobbe

Soreide Law Group provides you with new information concerning securities broker Curt Giacobbe (CRD#: 2682776, Melville, New York). Notably, Financial Industry Regulatory Authority BrokerCheck shows that investors filed disputes about the securities broker, who worked for securities firm MML Investors Services from 2012 to 2019. Not only that, but FINRA indefinitely barred Giacobbe from working as a securities broker or otherwise associating with FINRA-member firms. Here’s more about these disclosures concerning the securities broker.

MML Investors Services Client Alleges Unsuitable Recommendations By Curt Giacobbe

Specifically, a client of MML Investors Services LLC contends that Curt Giacobbe made unsuitable recommendations in regard to mutual funds. BrokerCheck shows that the client brought the dispute in July 2021, alleging $50,000 in damages. Allegedly, Giacobbe sold investments that were “not consistent” with the client’s risk tolerance. However, this matter is unresolved at this time, and the securities broker denies the allegations.

FINRA Bars Giacobbe As Securities Broker

Evidently, FINRA barred Curt Giacobbe in November 2020. Namely, FINRA alleges that it tried to get information from Giacobbe. However, the regulator did not receive his cooperation. The securities broker allegedly failed to respond to requests. At first, FINRA issued Giacobbe a suspension. Supposedly, the regulator warned Giacobbe about taking further action if Giacobbe did not respond. It appears that Giacobbe failed to respond, and this generated Giacobbe’s automatic bar as a securities broker. This means that Giacobbe cannot work for a securities firm that is a FINRA member. Most major securities firms are FINRA-member firms.
It is important to note that FINRA barred Curt Giacobbe after Massachusetts Mutual Life Insurance Company (MML) reported Giacobbe’s voluntary resignation in December 2019 following allegations of an outside business activity concerning a “non-broker dealer client.” FINRA does not confirm what its inquiry about Giacobbe concerned, but it may have related to this disclosure.

Prior Disputes About Curt Giacobbe

BrokerCheck shows that an MML Investor Services client complained about Curt Giacobbe’s annuity sale. Allegedly, the August 2016 dispute concerns purported misrepresentations about a variable annuity. However, MML Investors Services denied this dispute.

MetLife Client Alleges Unsuitable Recommendations

In addition, a client of MetLife disputed Curt Giacobbe’s sales practices. Notably, the client alleged that Giacobbe made unsuitable recommendations concerning an annuity and mutual funds. Although the client asked for $75,000 in compensation, it seems that MetLife denied this dispute. According to the broker, he was the sales manager but did not actively participate in the sale or sign the application.

Did You Sustain Damages By Investing Through Curt Giacobbe?

Did securities broker Curt Giacobbe cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Giacobbe denies all allegations of his sales practice violations.