Last Updated: February 2025, Tallahassee, FL
Here’s what you need to know about Tallahassee, FL, stockbroker Lester F. Hamrick:
- Name: Mr. Lester F. Hamrick
- Current Employer: MML Investors Services, LLC
- DBA: The Hamrick Group
- Function: Stockbroker / Financial Advisor
- Primary Location: Tallahassee, FL
- CRD: 5208155
- Can Lester Hamrick be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of: $100,000-$500,000
If you’ve sustained damages from Mr. Hamrick, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Lester Hamrick As Your Stockbroker?
A customer of MML Investors Services filed a complaint on January 6, 2025 (Case #25-00028), alleging that Lester Hamrick engaged in an unsuitable investment strategy. The complainants state they sought preservation of assets through conservative investments with moderate risks but were directed toward high-risk, unsuitable securities and a costly whole life insurance strategy. Alleged damages are estimated between $100,000.01 and $500,000.00. The is currently pending in FINRA arbitration.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
FINRA Rule 2111- suitability -Regulation Best Interest
Allegations of Broker Misconduct Against Lester Hamrick
Customers of Lester Hamrick have alleged the following misconduct in connection with the handling of their accounts:
- Unsuitable Investment Recommendations: Allegations state that Mr. Hamrick recommended high-risk securities and unsuitable whole life insurance products, contrary to the client’s expressed desire for asset preservation and conservative strategies. This violates FINRA Rule 2111, which requires brokers to make investment recommendations that align with a customer’s risk tolerance and objectives.
- Failure to Supervise: The complainants also allege that MML Investors Services failed to adequately supervise Mr. Hamrick’s actions, a potential violation of FINRA Rule 3110, which mandates that firms implement and maintain a system to supervise associated persons.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Lester F. Hamrick, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.