Sudesh Jain (CRD #: 1325905), a Florida-based broker registered with MML Investors Services, has a 7th investor dispute on his record, according to his BrokerCheck profile, accessed on December 31, 2020. Many of his previous disclosures involve Variable Universal Life insurance policies (VULs) – keep reading for more detail.
On November 3, 2020, an investor alleged that Sudesh Jain did not inform him of a premium waiver rider when he purchased a VUL. The dispute was denied by the firm, which can happen without the dispute entering into arbitration.
On November 20, 2018, an investor alleged that Jain recommended an unsuitable recommendation and that she was impersonated over the phone to authorize the transfer of the account. She further alleges that she was promised a specific return on an investment. The dispute settled for $11,487.91.
On March 19, 2018, investors alleged that Sudesh Jain misled them with respect to a VUL and two variable annuities. They further alleged Sudesh Jain took loans from two fixed annuities without their permission. The dispute settled for $28,244.93.
On April 25, 2016, an investor alleged that Jain misrepresented an insurance policy, describing it as a whole life insurance policy instead of a VUL policy with no guarantees. The client requested the cancellation of the VUL and the restoration of the whole life policy. The client sought $19,606; the dispute settled for $19,606.
On April 19, 2016, an investor alleged that Sudesh Jain recommended an unsuitable VUL. The client sought $183,000; the dispute settled for $23,429.
On August 19, 2013, an investor alleged that Jain misrepresented the premium payments required to maintain two VULs. The firm denied the dispute.
On January 19, 2011, an investor alleged that Sudesh Jain did not explain the terms and conditions of a VUL. The dispute settled for $3,384.
On February 9, 2006, Sudesh Jain was charged with one misdemeanor count of theft.
Sudesh Jain has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 6 Investment Company Products / Variable Contracts Representative Examination, and the Series 22 Direct Participation Programs Representative Examination. He is a registered broker California, Florida, Massachusetts, and Ohio.
Jain has worked in the securities industry for 34 years. During that time, he has registered with the following firms:
- MML Investors Services (CRD #: 10409)
- NYLife Securities (CRD #: 5167)
If Sudesh Jain was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for a free case consultation with a securities attorney.