Hugo Hernandez: MassMutual Advisor Faces Misappropriation Complaint

El Paso, Texas financial advisor Hugo Hernandez (CRD# 6446187) allegedly misappropriated customer funds, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with MML Investors Services, having previously been registered with NYLife Securities.

Mr. Hernandez’s BrokerCheck report discloses one investor complaint. Filed in June 2024, it alleges that he recommended an alternative investment in which the customer invested under the agreement “that he would be paid back within 90 days, with a 15% return.” According to the complaint, the customer “has not been paid back, and the checks given to the complainant have bounced,” which the complaint alleges “is a misappropriation of investment funds.” The pending complaint alleges damages of $23,000.

A profile of Mr. Hernandez on MassMutual’s website, archived in September 2023, includes his own description of his background and experience. “My combination of experience, professionalism and access to a wide variety of products and services can help you meet your financial goals, estate strategies and insurance needs,” he wrote. “Whether your goals include preparing for milestone life events like retirement or college, protecting your family’s future or you’re simply looking for life, disability income or long-term care insurance protection, I promise a new level of attention, insight and capability.”

According to the Financial Industry Regulatory Authority, Hugo Hernandez holds eight years of securities industry experience. Based in El Paso, Texas, he has been registered with MassMutual since 2017. He was previously registered with NYLife Securities from 2015 until 2017. His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in New Mexico and Texas. (Information current as of July 21, 2024.)

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