Martin McAlpin: MML Advisor Faces $4.3mm Complaint

A recent investor complaint against Minneapolis, Minnesota financial advisor Martin McAlpin (CRD# 1607538) alleges that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with MML Investors Services.

Mr. McAlpin’s BrokerCheck report discloses four investor complaints. Filed in June 2026, it alleges that as a representative of MML Investors Services, he was involved “in a matter in 2024 where a premium financing referral was made to a third party, who accepted $500,000 from the complainants to obtain a line of credit for them to make interest payments on whole life insurance policies.” Per the allegations, the third party failed to complete the transaction or return the funds. Finally, the customers allege that Mr. McAlpin failed to properly look into red flags associated with the transaction. The pending complaint alleges damages of $4.3 million.

FINRA rules stipulate that brokers like Mr. McAlpin can only recommend investments and strategies that are suitable for a given customer. Under FINRA Rule 2111, for example, a broker must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for the customer’s objectives, a basis reached through reasonable diligence into the customer’s investment profile. FINRA Rule 2010 requires representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who recommend unsuitable investments may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Martin McAlpin holds 28 years of securities industry experience. Based in Minneapolis, Minnesota, he has been registered as a broker and an investment advisor with MML Investors Services since 2013. His past registrations include Northwestern Mutual Investment, MML Investors Services, and Robert W. Baird. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 14 state licenses. (Information current as of August 1, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.