MML Investors Services Broker Named in FINRA Complaint for Misrepresentations to 90 Year Old Customers
Stanley Niekras, a previously registered broker with MML Investors Services, LLC (MML), was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he misrepresented to his customers, a 90 and 91 year old married couple, that he was entitled to over $70,000 for purported estate and financial planning services when he had no financial planning or advisory agreement with the elderly couple. According to the FINRA complaint, Stanley Clayton Niekras, of Watertown, New York, allegedly presented the elderly couple, who were declining both physically and mentally, with bills claiming he had spent more than 264 hours working on their estate and was entitled to retroactive compensation at a rate of $250 an hour. The bill, which Mr. Niekras allegedly presented to the couple on MML letterhead, was for $72,636.18 and was “due upon receipt.”
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