Joshua Lofton Baker (also known as Joshua Baker Ford), of Hoover, Alabama, a stockbroker registered with MML Investors Services LLC, has been permitted to resign on November 7, 2023, based upon allegations that Baker was the subject of customer complaints alleging sales practice violations in connection with the sale of whole life insurance and variable annuities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that on February 6, 2024, a customer initiated investment related securities arbitration claim involving Baker’s conduct was settled for $20,000.00 in damages based upon allegations that Baker misrepresented the risks associated with variable annuities when Baker was associated with MML Investors Services LLC. This claim also alleged that Baker failed to adequately manage an investment account opened around January 6, 2021, which resulted in financial losses for the customer. FINRA Arbitration No. 23-02452.
On September 13, 2023, another customer filed an investment related FINRA securities arbitration claim involving Baker’s conduct in which the customer requested $5,000,000.00 in damages based upon allegations that Baker made misrepresentations of material fact in connection with the sale of variable annuities and whole life insurance during the time that Baker was associated with MML Investors Services LLC. FINRA Arbitration No. 23-02489. According to the claim, the stockbroker also falsified the customer’s signature on insurance paperwork and made fraudulent misrepresentations on applications for those insurance products.
Baker was associated with MML Investors Services LLC in Hoover, Alabama, from June 15, 2017, to December 7, 2023.
