Matthew E. Loverine of Milwaukee, Wisconsin, a stockbroker registered with Sagepoint Financial Inc., is the subject of a customer initiated investment related complaint filed on March 11, 2023, in which the customer requested compensation based upon allegations that Loverine made misrepresentations of material fact and made the unsuitable recommendation of certain variable annuities during the time that Loverine was associated with Sagepoint Financial Inc.
This is not the first time that Loverine has been accused by a customer of sales practice violations. Financial Industry Regulatory Authority (FINRA) Public Disclosure also shows that on April 20, 2009, a customer initiated investment related complaint involving Loverine’s conduct was settled for $46,300.57 in damages based upon allegations that when Loverine was associated with MetLife, he assured the customer that their variable annuity would earn a guaranteed interest rate and there would be no exposure to stock market risk.
Loverine was associated with Sagepoint Financial Inc. in Milwaukee, Wisconsin from November 10, 2017, to September 1, 2023. Loverine has been associated with Osaic Wealth Inc. in Milwaukee, Wisconsin since September 1, 2023, as both a stockbroker and an investment advisor representative.
