Financial Industry Regulatory Authority (FINRA) BrokerCheck shows that five investors filed disputes concerning securities broker Daniel James Lauletta (CRD#: 2659123, Cleveland, Ohio). Evidently, Lauletta worked for Cetera Advisor Networks from 2013 to 2016. Also, he worked as a financial advisor and a securities broker for MSI Financial Services (MetLife) from 2016 to 2017 and MML Investors Services (2017 to present). Notably, some of the allegations in these disputes come from MSI clients and contain allegations of misrepresentation, unsuitable advice, and negligence. Here's more.
Notably, a client of MSI Financial Services brought a civil lawsuit in an Arkansas court in October 2020, and that dispute concerns Daniel Lauletta's sales of variable annuity products and insurance products. First of all, the client contends that Lauletta provided negligent advice. Secondly, the securities broker purportedly used misleading tactics to get the client to buy life insurance policies that the client described as unsuitable and unsustainable. It seems that Lauletta's advice allegedly resulted in the depletion of the clients' retirement assets and led to surrender charges and tax penalties. For this reason, the client asked for $1,000,000 in this ongoing lawsuit.
Supposedly, Daniel Lauletta had a second MSI Financial Services client purchase a whole life insurance policy. Evidently, that client brought a lawsuit in an Arkansas court in September 2020. Mainly, the client contends that Lauletta misrepresented a whole life insurance policy. Not only that but they accused Lauletta of inducing them to buy an unsuitable life insurance policy. Because of this, the client seeks compensation in this unresolved matter.
Notably, a client of Ameriprise Financial Services lodged a lawsuit about Daniel Lauletta. It seems in this December 2019 lawsuit that Lauletta allegedly induced them to buy bad life insurance policies. Moreover, the broker supposedly misrepresented information relating to life insurance. It seems that this client asked for $25,000 to resolve this pending lawsuit.
Evidently, two investors disputed Daniel Lauletta's actions in 2014. One client's dispute moved to settlement, where the client could get out of their policy after alleging an unauthorized exchange. And in the second dispute, the client alleged omissions of surrender charges on a variable annuity purchase. However, that client's complaint did not settle.
Did securities broker Daniel Lauletta 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 Lauletta denies all allegations of his sales practice violations.
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