WILLIAM JULIUS BYRD is currently employed as a Broker and/or Investment Adviser at MML INVESTORS SERVICES, LLC located at 401 HIGHWAY 6 WEST, OXFORD, MS, 38655.
WILLIAM JULIUS BYRD has worked at MML INVESTORS SERVICES, LLC since March 25, 2017
Disclosure History
WILLIAM JULIUS BYRD has 8 Disclosure Event(s).
Date: February 09, 2009 Category: Customer Dispute Allegations: CLIENT ALLEGES BASED ON THE PROPOSALS WHICH ILLUSTRATE THE PREMIUMS AND INCOME ON A VARIABLE LIFE INSURANCE POLICY, SHE COULD NOT HAVE BEEN ABLE TO PAY THESE PREMIUMS AND THE LUMP SUM PAYMENT WAS TO BE THE ONLY FUNDING. CLIENT IS REQUESTING THE FIRM TO INVESTIGATE THIS MATTER. DAMAGES UNSPECIFIED.
Date: February 04, 2005 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HE WAS INFORMED THAT THE VARIABLE LIFE INSURANCE POLICIES WOULD PRODUCE ENOUGH INCOME TO CARRY THEMSELVES, THEREBY PRODUCING TAX FREE INCOME. CLIENT STATES THAT THE RATE OF RETURN PRESENTED DID NOT PROJECT LOSSES BUT ONLY GAINS AND HE IS CONTINUALLY SEEING DIMINUTION IN OVERALL VALUES AND MUST PAY ADDITIONAL PREMIUM PAYMENTS. THIS IS CONTRARY TO THE REPRESENTATIONS MADE TO HIM THAT THE COST OF THE INSURANCE WOULD COME OUT OF THE APPRECIATION IN VALUE. CLIENT IS ASKING FOR THE FIRM TO REVIEW THE MATTER AND PRESENT HIM WITH SOME OPTIONS TO MAKE HIM WHOLE. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER'S COMPLAINT.
Date: July 13, 2004 Category: Customer Dispute Allegations: THE CLIENT STATES THAT HE WAS MISLED DURING THE PURCHASE OF A VARIABLE LIFE INSURANCE POLICY IN 1993. CLIENT ALLEGES THAT THE REPRESENTATIVE SHOWED HIM THAT HE COULD BORROW INTEREST-FREE FROM AN EXISTING TRADITIONAL LIFE INSURANCE POLICY TO FUND THE 1993 ISSUE VARIABLE LIFE INSURANCE POLICY. THE CLIENT FURTHER ALLEGES THAT ALTHOUGH THE ILLUSTRATION SHOWED CONTINUED PREMIUM PAYMENTS, THE REPRESENTATIVE STATED THAT THREE $33,000. PAYMENTS WOULD BE ALL THAT WERE NEEDED TO FUND THE POLICY. DAMAGES WERE NOT SPECIFIED. Settlement Amount: $63,545.74 Broker Comment: THE FIRM OFFERED TO CANCEL THE 1993 LIFE INSURANCE POLICY AND REVERSE THE LOANS AND INTEREST TAKEN AGAINST THE PRE-EXISTING POLICY TO PAY PREMIUMS FOR THE 1993 POLICY. AS A RESULT, THERE WAS A LOSS TO THE FIRM OF 63,545.74.
Date: July 07, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES HE WAS MISLED BY THE AGENT DURING THE SALE OF A 2001 ISSUE VARIABLE LIFE INSURANCE POLICY. CLIENT REQUESTED A REFUND BUT DID NOT SPECIFY ANY AMOUNT OF DAMAGES. Settlement Amount: $15,897.94 Broker Comment: EQUITABLE AGREED TO CANCEL THE POLICY AND REFUND PREMIUMS PAID. THIS RESULTED IN A LOSS OF $15,897.94.
Date: January 28, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES THE SALE OF VARIABLE LIFE INSURANCE POLICIES AND VARIABLE ANNUITY CONTRACTS IN 2001 WERE UNSUITABLE. CLIENT FURTHER ALLEGES HE WAS UNAWARE OF THE PRICE OF INSURANCE. DAMAGES ARE UNSPECIFIED. Settlement Amount: $109,600.00 Broker Comment: WITHOUT ADMITTING ANY LIABILITY ON THE PART OF THE FIRM OR MYSELF, EQUITABLE AGREED TO CANCEL THE POLICIES & CONTRACTS AND REFUND PREMIUMS PAID. THIS RESULTED IN A LOSS OF $109,600.
Date: April 03, 2002 Category: Customer Dispute Allegations: PLAINTIFFS ALLEGE THAT, IN ORDER TO SELL VARIOUS TYPES OF LIFE INSURANCE POLICIES, DEFENDANTS USED A FRAUDULENT SCHEME WHICH INCLUDED MISREPRESENTATIONS CONCERNING THE PREMIUM PAYMENTS TO BE PAID ON SUCH POLICIES, AS WELL AS OMISSIONS AND CONCEALMENT OF MATERIAL FACTS. DEFENDANTS? ACTIONS ALLEGEDLY CONSTITUTED FRAUD, INTENTIONAL MISREPRESENTATION, FRAUDULENT INDUCEMENT, NEGLIGENT MISREPRESENTATION AND BREACH OF DUTY TO DEAL IN GOOD FAITH. DAMAGES ARE UNSPECIFIED. Broker Comment: THIS LAWSUIT WAS RESOLVED AS PART OF THE SETTLEMENT OF A NUMBER OF LAWSUITS, CLAIMS AND THREATENED CLAIMS BY PRESENT AND FORMER POLICYHOLDERS IN MISSISSIPPI AGAINST THE EMPLOYING FIRM AND/OR ITS AFFILIATES AND CERTAIN OF ITS CURRENT AND FORMER REPRESENTATIVES. NO SPECIFIC PORTION OF THE TOTAL SETTLEMENT AMOUNT WAS ALLOCATED BY THE PAYING DEFENDANTS TO RESOLVE SPECIFIC ALLEGED CLAIMS IN WHICH THE REGISTERED REPRESENTATIVE WAS A NAMED PARTY. THE EMPLOYING FIRM BELIEVES THAT THE SETTLEMENT AMOUNT OF THIS LAWSUIT EXCEEDS $10,000. THE EMPLOYING FIRM AND ITS REGISTERED REPRESENTATIVES EXPRESSLY DENY ANY WRONGDOING OR LIABILITY IN CONNECTION WITH THESE CLAIMS.
Date: November 20, 2001 Category: Customer Dispute Allegations: PLAINTIFFS ALLEGE THAT, IN ORDER TO SELL ALL DIFFERENT TYPES OF LIFE INSURANCE POLICIES, DEFENDANTS USED A SCHEME WHICH INCLUDED MISREPRESENTATIONS, OMISSIONS AND CONCEALMENT OF MATERIAL FACTS. DEFENDANTS? ACTIONS ALLEGEDLY CONSTITUTED FRAUD, FRAUDULENT MISREPRESENTATION, FRAUDULENT INDUCEMENT, FRAUDULENT CONCEALMENT, CONSPIRACY TO COMMIT FRAUD AND BREACH OF FIDUCIARY DUTY. DAMAGES ARE UNSPECIFIED. Broker Comment: THIS LAWSUIT WAS RESOLVED AS PART OF THE SETTLEMENT OF A NUMBER OF LAWSUITS, CLAIMS AND THREATENED CLAIMS BY PRESENT AND FORMER POLICYHOLDERS IN MISSISSIPPI AGAINST THE EMPLOYING FIRM AND/OR ITS AFFILIATES AND CERTAIN OF ITS CURRENT AND FORMER REPRESENTATIVES. NO SPECIFIC PORTION OF THE TOTAL SETTLEMENT AMOUNT WAS ALLOCATED BY THE PAYING DEFENDANTS TO RESOLVE SPECIFIC ALLEGED CLAIMS IN WHICH THE REGISTERED REPRESENTATIVE WAS A NAMED PARTY. THE EMPLOYING FIRM BELIEVES THAT THE SETTLEMENT AMOUNT OF THIS LAWSUIT EXCEEDS $10,000. THE EMPLOYING FIRM AND ITS REGISTERED REPRESENTATIVES EXPRESSLY DENY ANY WRONGDOING OR LIABILITY IN CONNECTION WITH THESE CLAIMS.
Date: July 12, 2001 Category: Customer Dispute Allegations: CLIENT ALLEGES THE AGENT MADE MISREPRESENTATIONS DURING THE SALE TWO VARIABLE LIFE INSURANCE POLICIES ISSUED IN 1992 AND 1993. CLIENT FURTHER ALLEGES SHE WAS NOT TOLD THE COST OF INSURANCE WOULD CONTINUE TO ESCALATE. DAMAGES ARE UNSPECIFIED. Settlement Amount: $25,710.48 Broker Comment: EQUITABLE AGREED TO ISSUE A NEW POLICY, TO REPLACE THE ORIGINAL POLICIES. EQUITABLE ALSO AGREED TO ADD THE SURRENDER CHARGES OF THE ORIGINAL POLICIES TO THE PREMIUM FOR THE NEW POLICY AND ADD 6% OF THE COMBINED ACCOUNT VALUES (ORIGINAL POLICIES) TO THE INITIAL PREMIUM PAYMENT TO PAY THE FIRST YEAR PREMIUM CHARGE. THIS RESULTED IN A LOSS OF $25,710.48.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for WILLIAM JULIUS BYRD, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.