Mark Pearcy Involved In MetLife Investor Disputes

Mark Pearcy (MetLife) Involved In Disputes About Variable Annuities, Insurance

Soreide Law Group has new information to share with you regarding securities broker Mark William Pearcy (CRD#: 2978026, San Diego, California). Notably, the securities broker worked for MSI Financial Services (MetLife Securities) from 1997 to 2017 as both a securities broker and a financial advisor. He joined MML Investors Services (MassMutual) in 2017. It appears through FINRA BrokerCheck that four investors challenged Pearcy's sales practices. For more on those disclosures, check out the following summary.

Metropolitan Life Insurance Company Client Complains About Mark Pearcy’s Variable Universal Life Insurance Sale

Evidently, a client of MetLife came forward with a dispute about Mark Pearcy’s insurance sales. The November 2020 FINRA Arbitration Claim concerns Pearcy’s sales of a variable universal life insurance policy. According to the client, Pearcy misrepresented this policy, claiming that it could produce ten percent annual returns for the client. It seems that the client invested in those premiums for 20 years, but the policy lapsed. It appears that MetLife opted to settle this matter in August 2021 by paying the client $100,000.

Client Of MetLife Securities Alleges Failure To Follow Instructions, Unsuitable Recommendations

Evidently, a client of MetLife Securities disputed Mark Pearcy's mutual fund and variable annuity transactions. The May 2015 dispute relates to the client's alleged instructions on placing funds in risk-free products. Purportedly, Pearcy did not follow the client's instructions in this respect. The client also claimed that Pearcy provided bad advice about several variable annuities. However, MetLife Securities denied this dispute.

Prior Disputes Allege Unsuitable Recommendations, Misrepresentation By Mark Pearcy

Moreover, two different clients lodged disputes about Mark Pearcy in 2009. One of those disputes concerns Pearcy’s variable annuity recommendations, which the client described as unsuitable. Evidently, the client obtained $105,306.05 in a settlement with MetLife.
The second dispute concerned Mark Pearcy failing to consider the client’s concerns about volatility. Supposedly, the securities broker made misrepresentations about investment accounts to that client. However, MetLife denied this dispute.

Did You Lose Money By Investing Through Pearcy?

Did Mark Pearcy 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 Pearcy denies all allegations of his sales practice violations.