MML Investors Services, a dually registered investment advisor and broker/dealer and subsidiary of MassMutual Holdings, has settled charges with the Securities and Exchange Commission (SEC) over delayed disclosures. The disclosures that MML Investors Services delayed making included customer complaints and arbitrations, criminal charges, and bankruptcies. The SEC found that MML Investors Services failed to timely file reports on certain disciplinary actions against its registered representatives, as required by law.
As part of the settlement, MML Investors Services has agreed to pay a $350,000 penalty and to cease and desist from committing any future violations of the reporting provisions of the federal securities laws. The SEC also found that MML Investors Services failed to establish, maintain, and enforce written policies and procedures reasonably designed to ensure compliance with the reporting provisions of the federal securities laws.
The most recent Form 13F filing that MML Investment Services LLC has submitted to the Securities and Exchange Commission shows that the firm's total market value of reported holdings for the quarter ended September 30, 2021, was $2.44 billion. The filing shows that the firm's top holdings are in Apple Inc., Microsoft Corp., and Amazon.com Inc.
MML Investments Services LLC informed the Securities and Exchange Commission in its most recent 13F filing that, during the third quarter, it increased its holdings in Apple Inc. by 5.2%, Microsoft Corp. by 4.9%, and Amazon.com Inc. by 4.8%. The firm also decreased its holdings in Facebook Inc. by 4.4% and Alphabet Inc. by 2.5%.
Ivan Illán has joined LPL Financial as a Hybrid RIA with the launch of Aligne Wealth Advisors Investment Management (AWAIM®). Illán will serve as the firm's chief investment officer. Aligne Wealth Advisors Investment Management is a registered investment advisor that offers a range of financial planning and investment management services.
Investors might not be aware when their advisers have ties to insurance companies. Many financial advisers have affiliations with insurance companies, which can create conflicts of interest. These conflicts of interest can lead advisers to recommend products that are not in the best interest of their clients.
Finding the right financial adviser for you will likely have a profound impact on your financial future. Luckily, these experts are here to help. Financial advisers can help you plan for retirement, invest your money, and manage your finances. They can also help you navigate complex financial products and strategies.
Explore the B-D Data Center to find exclusive information and intelligence about the independent broker-dealer industry. Find out which firms offer the best products and services, which have the strongest financials, and which are expanding their businesses. The B-D Data Center is a valuable resource for investors, analysts, and industry professionals.
Headquartered in Houston, Texas, USA, OnPoint Industrial Services (“OnPoint”) specializes in industrial safety services, including safety consulting, training, and staffing. OnPoint serves a variety of industries, including oil and gas, petrochemicals, power generation, and manufacturing. OnPoint's mission is to help companies create safe and healthy workplaces for their employees.
