MML INVESTORS SERVICES LLC Lawsuit

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against:
MML INVESTORS SERVICES, LLC (Respondent)
The Claimant, who resides in Wisconsin, brings this action to recover losses while he was a client with MML INVESTORS SERVICES, LLC.  The lawsuit states that the Respondent and its former Financial Advisor, Todd Sivak, allegedly understood that the Claimant did not want to take any unnecessary risks investing. However, according to the lawsuit, the Respondent and the Financial Advisor, Todd W. Sivak, allegedly recommended that the Claimant invest his entire Roth IRA in the Invesco OppenheimerSteelpath MLP (MLPRX). Todd Sivak is not named in this lawsuit.
The lawsuit alleges the Respondent, MML INVESTORS SERVICES and Todd Sivak failed to advise the Claimant that the concentrated investment recommendation was not diversified. Also, MLPRX was a speculative energy investment that subjected the Claimant to uncompensated risk.
The lawsuit alleges that the Claimant suffered a loss of approximately $40,000. The lawsuit alleges: breach of fiduciary duty, breach of contract, negligence, violations of FINRA rules, and negligent supervision.
According to FINRA’s BrokerCheck, available on FINRA’s website, Todd Sivak, has been in the securities industry for 29 years and has been listed with 5 firms.  Sivak is currently listed with the following firm, both as a broker and financial advisor, since 4/17/2020:
LPL FINANCIAL LLC
1300 SUMMIT AVE SUITE 203
OCONOMOWOC, WI 53066
Todd Sivak was previously listed with:
01/08/2001 - 04/21/2020  MML INVESTORS SERVICES, LLC - OCONOMOWOC, WI 
If you’ve experienced losses due to the actions or recommendations of MML INVESTORS SERVICES, LLC of Oconomowoc, Wisconsin, and/or their former broker/investment advisor, Todd Sivak, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee to you if no recovery, and represents clients nationwide before FINRA.