Mark David Wolpert of Plymouth, Minnesota, a stockbroker registered with MSI Financial Services Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $50,000.00 in damages based upon allegations that Wolpert made unsuitable investment recommendations and made misrepresentations of material fact about real estate securities and variable annuities when Wolpert was associated with MSI Financial Services Inc. FINRA Arbitration No. 23-03577 (December 19, 2023).
FINRA Public Disclosure shows that Wolpert is referenced in four other customer initiated investment related disputes concerning Wolpert’s conduct while associated with securities broker dealers. On October 6, 2009, a customer filed an investment related complaint involving Wolpert’s conduct in which the customer requested compensatory damages based upon allegations that Wolpert engaged in unsuitable trading in stocks when Wolpert was associated with MetLife Securities. The complaint was denied.
On January 15, 2010, another customer filed an investment related complaint involving Wolpert’s conduct in which the customer requested compensatory damages based upon allegations that Wolpert made unsuitable recommendations in stocks and exchange-traded funds. The securities broker dealer denied this complaint.
Wolpert was also referenced in a customer initiated investment related complaint filed on January 17, 2019, in which the customer requested $60,000.00 in damages based upon allegations that Wolpert pressured her into exchanging her existing life insurance policy into a new product during the time that Wolpert was associated with MSI Financial Services Inc. This complaint was denied.
Wolpert is also referenced in a complaint that was settled on June 7, 2013, for $51,197.06 in damages based upon allegations that Wolpert made omissions about the loss of supplemental riders within a variable annuity.
Public Disclosure also shows that on July 1, 2019, Wolpert was ordered to cease and desist violating state law by the State of Minnesota Department of Commerce because Wolpert made inaccurate statements about a life insurance policy and made a recommendation for life insurance without having reasonable grounds for believing his advice was suitable. Case No. 55986/GAM.
Wolpert has been associated with MML Investors Services LLC in Plymouth, Minnesota, since March 25, 2017.
