Matthew Loverine Allegedly Recommended Unsuitable RILA

Matthew Loverine (CRD #: 4840492), a broker registered with SagePoint Financial, allegedly made an unsuitable recommendation of an annuity, according to his BrokerCheck record, accessed on June 1, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On March 11, 2023, an investor alleged that Matthew Loverine recommended an unsuitable registered index-linked annuity (RILA). He allegedly also made misrepresentations with regard to this investment. This dispute was denied by the firm.

Investors should be aware, however, that firms don’t need to permit an outside review before denying a dispute. Investors may be able to recover their funds by seeking out FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and age.

Investors who rely on brokers for recommendations may be able to recoup their losses by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent means of influencing investors’ decisions. The misrepresentation or omission of material facts violates this rule.

Background Information

Matthew Loverine has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Matthew Loverine is a registered broker in 20 states and a registered investment adviser in Illinois, Mississippi, and Wisconsin.

He has also worked for the following firms:

• MML Investors Services (CRD#:10409)
• MSI Financial Services (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you worked with Matthew Loverine and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.