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Sudesh Jain: Complaints Against Florida MML Advisor

Investor complaints against MML Investors Services broker and investment advisor Sudesh Jain (CRD# 1325905) allege conduct including suitability violations, misrepresentations, and more by the Orlando, Florida-based representative. Mr. Jain has been registered with the firm since 2017, according to information drawn from the Financial Industry Regulatory Authority.

Sudesh Jain allegedly recommended an investment in an unsuitable product, impersonated the customer over the phone to initiate an account transfer, and “promised a specific return,” according to a 2018 complaint concerning his conduct as a representative of NYLife Securities. The complaint reached a settlement of $11,487.91.

Sudesh Jain allegedly made factual misrepresentations and executed unauthorized loans from annuity products, according to a 2018 complaint regarding his conduct as a representative of NYLife Securities. The complaint reached a settlement of $28,244.93.

Mr. Jain allegedly made false representations about a product, specifically by “stating that it was… a whole life policy instead of a variable life policy with no guarantees,” according to a 2016 complaint regarding his conduct as a representative of NYLife Securities. The complaint reached a settlement of $19,606.80.

A 2016 complaint regarding his conduct as a representative of NYLife Securities alleged he recommended an unsuitable variable universal life insurance product and provided false representations regarding “funding its premiums with a mutual fund account.” The complaint reached a settlement of $23,429.23.

A 2011 complaint alleged that as a representative of NYLife Securities, he failed to fully explain certain variable universal life insurance policy investments. The complaint reached a settlement of $3,384.38.

Sudesh Jain has been registered with MML Investors Services’ office in Orlando, Florida since 2017. His employment history includes NYLife Securities in Dayton, Ohio. He holds four state licenses and has passed four securities industry qualification examinations. (Information current as of August 12, 2019.)

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