Advisor Alert: Our Attorneys Are Investigating Lester F. Hamrick For Unsuitable Investment Recommendations

Last Updated: February 2025 (Tallahassee, FL)

National securities fraud lawyers at Patil Law P.C. are investigating current MML Investors Services LLC broker Lester F. Hamrick (CRD #5208155) regarding allegations of unsuitable investment recommendations and excessive life insurance sales. The investigation stems from a recently filed FINRA arbitration claiming significant investor losses.

Critical Insights About Tallahassee Financial Advisor Lester F. Hamrick

• Advisor Name: Lester F. Hamrick
• CRD: 5208155
• Location: Tallahassee, FL
• Current Employer: MML Investors Services, LLC
• Classification: Registered Representative & Investment Adviser Representative
• Primary Location: 259 John Knox Road, Tallahassee, FL 32303
• Can Lester Hamrick be sued in FINRA arbitration: Yes
• Customer Disputes: One pending complaint
• Current Registrations: Licensed in 6 states
• Years of Experience: Since 2007
• Previous Employers: Securities America (2016-2020), Park Avenue Securities (2007-2016)
• Professional Qualifications: Series 6, 63, 65, SIE licenses

Details Of Current Investigation A FINRA arbitration filed in January 2025 alleges:

• Unsuitable investment recommendations
• High-risk investment strategies
• Excessive whole life insurance sales
• Failure to preserve assets as requested
• Damages between $100,000 – $500,000
• Failure of firm supervision

Analysis Of Alleged Misconduct The allegations raise serious concerns about:

• Investment suitability standards
• Risk tolerance assessment
• Asset preservation duties
• Insurance sales practices
• Portfolio management
• Compliance oversight
• Client communication

Regulatory Framework And Investor Protection SEC Regulation Best Interest and FINRA rules require:

• Suitable investment recommendations
• Proper risk disclosures
• Accurate client profiling
• Appropriate product selection
• Client interest prioritization
• Documentation of recommendations
• Reasonable supervision

Professional Background Mr. Hamrick’s career includes:

• Entry into securities industry in 2007
• Multiple broker-dealer transitions
• Current position at MML since 2020
• Outside insurance business activities
• No disclosed regulatory actions
• Limited securities licenses

Red Flags For Investors

1. Recent arbitration claim
2. Allegations of unsuitable recommendations
3. High-risk investment strategies
4. Insurance sales practices
5. Client communication issues
6. Supervision concerns
7. Risk tolerance disputes
8. Asset preservation failures

Implications For Current And Former Clients Current and former clients should:

• Review account statements
• Examine investment objectives
• Verify risk tolerance documentation
• Assess portfolio allocations
• Evaluate insurance policies
• Document communications
• Consider independent review
• Monitor account activity

Patil Law P.C. Will Help You Recover Your Investment Losses If you were a client of Lester F. Hamrick and experienced investment losses or have concerns about unsuitable recommendations, contact Attorney Patil online or call (800) 950-6553 for a free consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.

Chetan Patil

Chetan Patil is the founder and Managing Partner of the Patil Law. He brings over 15 years of extensive experience in diverse complex disputes and transactions, across the country. Mr. Patil specializes in litigations, trials, arbitrations, and appeals of complex securities, FINRA, financial and business disputes, with an emphasis in securities, financial services, and financial regulatory law.