Advisor Alert: Our Attorneys Are Investigating Eric Shawnyee Tom For Investment Fraud
Did You Lose Money Because of Eric Tom?
Filed: March 19, 2024
Eric Tom has been the subject of twelve (12) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Eric Shawnyee Tom.
Who Is Eric Shawnyee Tom of MML Investors Services, LLC?
- Advisor Name: Eric Shawnyee Tom
- Aliases: Eric Tom
- CRD: 1890823
- Location: East Hills, New York
- Current Employer: MML Investors Services, LLC
- Previous Firms: MSI Financial Services, Inc. and Metropolitan Life Insurance Company
- Number of Known Customer Complaints: 12
- Can Eric Tom Be Sued: Yes, in Private Arbitration
- Can Eric Tom’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $100,000
- Highest Settlement: $135,951.44
If you have suffered investment losses by Eric Tom, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Eric Tom For Broker Misconduct
As of this publication date, Eric Tom has been the subject of 12 customer disputes. Let’s review them below.
In November 2022, a FINRA arbitration was filed against or in reference to Eric Tom by a customer of MSI Financial Services, Inc. alleging that the client’s Jackson National Individual Deferred Variable and Fixed Annuity contracts, that were purchased in January 2006, were mismanaged by Mr. Tom, which resulted in a loss of his retirement savings, and the registered representative breached his fiduciary duty, and contract, and made misrepresentations. On March 6, 2024, Mr. Tom settled the claim for $75,000, and some or all of this amount may have been paid by Mr. Tom’s employer and/or insurance carrier.
In November 2020, a FINRA arbitration was filed against or in reference to Eric Tom by a customer of MSI Financial Services, Inc. alleging that the investments that were sold to him in 2015 did not match his expressed financial objectives and he has lost money as a result. Per the customer, he lost over $100,000 because of Mr. Tom’s actions. On March 15, 2023, Mr. Tom settled the claim for $47,500, and some or all of this amount may have been paid by Mr. Tom’s employer and/or insurance carrier.
In June 2017, a complaint was filed against or in reference to Eric Tom by a customer of MSI Financial Services, Inc. alleging that the deferred sales charges were not clearly explained when a variable annuity was sold by the advisor in November 2016.
In April 2016, a complaint was filed against or in reference to Eric Tom by a customer of MSI Financial Services, Inc. alleging that Mr. Tom misrepresented the variable annuity when purchased in July 2015.
In August 2015, a complaint was filed against or in reference to Eric Tom by a customer of Metlife Securities alleging that Mr. Tom misrepresented the features of the variable life insurance policy purchased in March 2002. On January 5, 2016, Mr. Tom settled the claim for $135,951.44, and some or all of this amount may have been paid by Mr. Tom’s employer and/or insurance carrier.
In December 2014, a complaint was filed against or in reference to Eric Tom by a customer of Metlife Securities alleging that Mr. Tom did not fully explain the variable annuity purchased in July 2014.
In July 2013, a complaint was filed against or in reference to Eric Tom by multiple customers of Metlife Securities alleging that Mr. Tom’s recommendation to purchase a bond fund in September 2012 was not appropriate.
In July 2013, a complaint was filed against or in reference to Eric Tom by a customer of Metlife Securities alleging that Mr. Tom did not explain risk when funds were invested in a mutual fund in August 2012, approximately.
In May 2012, a complaint was filed against or in reference to Eric Tom by a customer of Metlife Securities alleging that Mr. Tom did not explain the premium may increase when a variable life insurance policy was purchased in November 1996.
In October 2010, a complaint was filed against or in reference to Eric Tom by a customer of Metlife Securities alleging that funds provided to Mr. Tom, on or about November 2001, for the purchase of a variable life insurance policy, were not used as directed.
In January 2006, a complaint was filed against or in reference to Eric Tom by a customer of Metlife alleging that Mr. Tom never informed him of the existence of the waiver of premium rider declaration after reviewing his bankers life policy. The client also alleges that Mr. Tom never issued a disclosure statement pertaining to the Metlife Variable Universal Life Insurance Policy he purchased in January of 1997. Per the customer, he/she lost over $9,615.54 because of Mr. Tom’s actions.
In May 2004, a complaint was filed against or in reference to Eric Tom by a customer of Metlife alleging misrepresentations were made to him when he purchased a variable life policy in December 2000. Per the customer, he/she lost over $63,543.40 because of Mr. Tom’s actions.
How To File A Claim Against Eric Tom of MML Investors Services, LLC (previously with MSI Financial Services, Inc. and Metropolitan Life Insurance Company) To Get Your Money Back
If you have questions about Eric Tom, MML Investors Services, LLC, MSI Financial Services, Inc., Metropolitan Life Insurance Company, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.