Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 28, 2018 indicate that Arizona-based MML Investors Services broker Michael Lucas has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lucas (CRD# 5695141).
Michael Lucas has spent eight years in the securities industry and has been registered with MML Investors Services in Scottsdale, Arizona since 2014. He was previously registered with NYLife Securities in Scottsdale, Arizona (2009-2013). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 19, 2010; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on December 22, 2009. He is a registered broker with four US states—Arizona, Indiana, New Jersey, and West Virginia—and one self-regulatory organization (SRO): FINRA.
According to his BrokerCheck report, he has received one pending customer complaint and was discharged from a former employer in connection to alleged rule violations.
In October 2018 a customer alleged Michael Lucas, while employed at MML Investors Services, intentionally misled him to sign documents for a fixed annuity product funded with proceeds from a 401(k), despite the agent’s awareness of the customer’s wish to have his funds placed in a liquid money market account. The customer is seeking unspecified damages in the pending complaint.
In 2013 he was terminated from his position at NYLife Securities in connection to allegations he violated company policy when he recommended the unsuitable replacement of a life insurance product, “enabling an agent under his supervision to meet a production requirement.”
If you or someone you know has lost money investing with Michael Lucas, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.