Robert Joseph Boyer III (also known as Bob Boyer) of Wayne Pennsylvania a stockbroker formerly registered with MML Investors Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he obstructed a FINRA investigation into a customer initiated investment related complaint regarding accusations against him. Letter of Acceptance Waiver and Consent No. 2020068462901 (Sept. 21, 2021).
According to the AWC, on October 27, 2020, FINRA was made aware from MML Investors Services that a customer complained about Boyer. The customer alleged that Boyer set up accounts for them when they were not in the right financial position to invest. The customer allegedly never signed some of the applications. Those applications allegedly contained false information. MML Investors Services relayed to FINRA on December 24, 2020 that it terminated Boyer’s registration as stockbroker on December 18, 2020 founded on the customer’s complaint.
On April 15, 2021, Boyer was instructed by the regulator to provide it with documents and information so that it could investigate the basis of this customer complaint. Boyer was not responsive to those requests. By August 31, 2021, Boyer’s lawyer relayed to FINRA that Boyer would not provide any documents or information. Boyer violated FINRA Rules 2010 and 8210 by refusing to comply.
FINRA Public Disclosure shows that Boyer has been identified in two customer initiated investment related disputes concerning allegations of his wrongful behavior while associated with MML Investors Services. On October 31, 2018, a customer filed an investment related complaint concerning Boyer’s activities where the customer sought compensatory damages supported by accusations of improper conduct relating to a variable annuity that Boyer sold in 2017 when he was associated with MML Investors Services.
Boyer is also referenced in a customer initiated investment related complaint which was resolved for $78,390.00 in damages on March 31, 2021 based on allegations of unauthorized transactions by Boyer relating to insurance and mutual funds.
Boyer was also registered with J. Alden Associates Inc. between January 29, 2021 and June 8, 2021.