MICHAEL FELIX GRECO (MICHAEL F GRECO) is currently registered as a broker with MML INVESTORS SERVICES, LLC of Coral Springs, Florida. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Greco has been with MML since 4/6/2006.
MICHAEL F GRECO, according to BrokerCheck, has been in the securities industry for 41 years and has been listed with 3 firms. Greco has 4 disclosures on his FINRA CRD report. Three are “Customer Disputes,” and one is an “Employment Separation after Allegations” from TOWER SQUARE SECURITIES of El Segundo, California dated 7/29/2002. The allegations were, “TERMINATED FOR FAILURE TO FULLY RESPOND AND COOPERATE WITH AN INTERNAL INSPECTION AND INVESTIGATION.”
Of the 3 “Customer Disputes,” on MICHAEL F GRECO’s FINRA CRD report, one was “Closed with no action” in 2005, another dispute was settled in 2005 for $5,000.00 following the allegations of, “UNSUITABLE INVESTMENT.” On December 11, 2024, another dispute was filed involving MICHAEL F GRECO. The allegations were, “The complainant alleges that the fixed annuity that was sold to her in 2019, which was funded by a securities account, was unsuitable and that she was taken advantage of.” The claimant sought $43,792 in alleged damages in the claim, which was denied.
Brokers/dealers and financial advisors have an obligation to their clients regarding the suitability of the recommendations they are providing. FINRA rule 2111 says that brokers must have “reasonable basis to believe” the investments or strategies they are recommending to their clients are suitable for their investment goals. To determine a recommendation’s suitability for their client, the broker/financial advisor must identify and consider the client’s investment profile. This includes the client’s net worth, investment objectives, liquidity needs, risk tolerance, and other factors.
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