CORINA MARCELA GUTMAN is currently employed as a Broker and/or Investment Adviser at MML INVESTORS SERVICES, LLC located at 7505 EUCLID AVE NE, ALBUQUERQUE, NM, 87110.
CORINA MARCELA GUTMAN has worked at MML INVESTORS SERVICES, LLC since November 11, 2014
CORINA MARCELA GUTMAN has 1 Disclosure Event(s).
Date: July 21, 2010 Category: Customer Dispute Allegations: ALLEGES THAT THE REPRESENTATIVE MADE INAPPROPRIATE RECOMMENDATIONS WHICH LED TO INCREASED TAX LIABILITY AND LOSS OF INVESTMENT INCOME. Settlement Amount: $125,000.00 Broker Comment: THE CLIENT EXPERIENCED A HIGHER THAN USUAL TAX LIABILITY IN 2007 DUE TO HER NEGLECT AS TRUSTEE FOR THE BENEFICIARY OF HER DECEASED HUSBAND'S IRA TO MAKE REQUIRED MINIMUM DISTRIBUTIONS (RMDS) OVER A PERIOD OF THIRTEEN (13) YEARS. AT HER CPA'S ADVICE AND WITH THE CPAS CALCULATIONS OF TAXES DUE, SHE MADE RETROACTIVE DISTRIBUTIONS IN 2007. THE INTERNAL REVENUE SERVICE IMPOSES A 50% PENALTY ON LATE DISTRIBUTIONS; THEREFORE THE CLIENT HAD TO PAY A 50% TAX PENALTY IN ADDITION TO THE INCOME TAX GENERATED BY THE DISTRIBUTIONS. IN ADDITION A SMALLER PORTION OF HER TAX LIABILITY WAS DUE TO THE FUNDING OF THE IRREVOCABLE FAMILY TRUST OF WHICH SHE WAS TRUSTEE AND HAD FAILED TO FUND FOR A PERIOD OF THIRTEEN (13) YEARS.THE CLIENT RECEIVED A HIGHER INCOME FROM HER INVESTMENTS AS A RESULT OF THE RESTRUCTURING OF HER PORTFOLIO. HER PRIOR PORTFOLIO INCOME WAS FEDERAL TAX FREE INCOME, WHILE THE NEW PORTFOLIO PROVIDED BOTH FEDERAL AS WELL AS STATE TAX FREE INCOME; IN ADDITION THE RESTRUCTURED PORTFOLIO PROVIDED THE CLIENT WITH A HIGHER RATE OF INCOME.
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