Douglas Licari: $200K Complaint Against MassMutual Advisor

East Hills, New York financial advisor Douglas Licari (CRD# 1081503) allegedly recommended investments that resulted in losses, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with MassMutual.

Mr. Licari’s BrokerCheck report discloses several investor complaints. The most recent, filed in June 2025, alleges that as a representative of MassMutual, he recommended alternative products that “were not good investments” and “have since lost money.” The pending complaint alleges damages of $200,000.

An earlier investor complaint, filed in 2002, alleged that as a representative of Pruco Securities, he misrepresented a insurance policy. The complaint reached a settlement of $8,220,74.

MassMutual’s website includes a profile of Mr. Licari that describes his experience and services as a representative at the firm. “My background, experience and commitment to providing you with the resources you need to make financial decisions, can help make your financial future as successful as you need it to be,” it explains. “I pride myself in getting to know each client so that I can understand their individual needs and what matters most to them. This helps me recommend products and strategies designed to meet their current needs, and more importantly, their future needs.”

According to the Financial Industry Regulatory Authority, Douglas Licari holds 42 years of securities industry experience. Based in East Hills, New York, he has been registered as a broker and an investment advisor with MassMutual since 2017 and 2021, respectively. His past registrations include MSI Financial Services, Metropolitan Life Insurance Company, Mony Securities Corporation, and Pruco Securities Corporation. His credentials include the passage of six securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the General Securities Principal Examination, or Series 24; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Connecticut, Florida, Georgia, Louisiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Vermont, and Virginia. (Information current as of July 5, 2025.)

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