Carmel, IN financial adviser Brian Simms  allegedly misappropriated approximately $1.3 million dollars from the widow of his deceased client according to a customer complaint under the review of investor rights attorney Alan Rosca. The CEO of Brendanwood Financial Brokerage and Brendanwood Financial Services, Brian Simms is also an agent licensed to sell insurance products in the State of Indiana.
The Rosca Scarlato investor rights attorneys Alan Rosca and Paul Scarlato are investigating the alleged conduct by Brian Simms. They often represent investors who suffer investment losses as a result of fraud or misconduct.
According to the complaint, prior to the death of his client, Simms received money from his clients for insurance policies and investments. Simms was purportedly the friend and financial advisor for his client and upon his death in 2017, he assisted his clients’ widow with investment and insurance financial decisions, the complaint alleged. He also allegedly assisted the widow in making death benefit claims through North American Company for Life and Health Insurance and the Lincoln National Life Insurance Company. When the death benefits were received, Simms allegedly convinced the widow to purchase from the proceeds of those insurance policies several investments, annuities and additional insurance. There was a total of 34 checks made payable to Brendanwood Brokerage in excess of over $1 million since the death of his client, according to the complaint reviewed by investment fraud attorneys Alan Rosca and Paul Scarlato.
Simms Faces Allegations of Fraud, Negligence, and Breach of Contract
Simms allegedly made numerous misrepresentations to his client so she would continue to write checks to him in massive dollar amounts, according to the lawsuit. The widow involved has reportedly sued Simms for alleged fraud, negligence, breach of contract and violations of the Indiana Securities Act. The lawsuit alleges in total $1,342,483 of the widows’ assets are missing, unaccounted for and believed to be lost and misappropriated by Simms and Brendanwood Financial Brokerage. Simms, through his attorney Justin Walton, issued a response denying any allegations of wrongdoing and plans a vigorous defense to this matter. At the date of this article, Brendanwood Financial Brokerage is still open, operating and conducting business.
Investor rights attorneys Alan Rosca and Paul Scarlato, of the Rosca Scarlato LLC law firm, are investigating activity related to Brian Simms’ alleged violation of Indiana Securities Law, fraud, negligence and breach of contract.
Investors or insurance clients who believe they may have lost money in activity related to Simms’ alleged violations of Indiana Securities Law, fraud, negligence and breach of contract are encouraged to contact attorneys Alan Rosca or Paul Scarlato with any useful information or for a free, no obligation discussion about their options.
Financial Adviser Brian Simms Has a Second Lawsuit for Allegedly Misappropriating Client Investment Funds and Fabricating Statements
Brian Simms has allegedly violated Indiana Securities Law, according to a second client lawsuit. He allegedly handled their insurance and investment needs for more than a decade. The clients trusted him and considered him a loyal friend and advisor, according to the customer’s complaint. The lawsuit alleges that Simms misappropriated $450,719 from January 2014. Simms allegedly gave his client bogus statements to show how the clients’ investments were performing and how much money they were making from those investments. According to the lawsuit these statements were false and sent to hide the alleged misappropriation of the money given to Simms from these clients. These statements were sent to the clients between 2014 and 2020. Simms is again being sued by his clients and the lawsuit charges him with fraud, negligence, breach of contract and violations of Indiana Securities Law.
Simms, formerly registered with Saxony Securities, Inc., MML Investor Services, Inc., and Securian Financial Services, Inc., is no longer a broker registered with FINRA.
Simms has filed for Chapter 13 bankruptcy in 2014. He also has a dispute from 2010 with his previous employer MML Investors Services, Inc for allegedly violating Firm’s policies and procedures pertaining to payment of clients’ insurance premiums on traditional life insurance policies. He resigned from MML Investors Services, Inc, FINRA states. He has had in his financial history a mortgage foreclosure as well.
An up-to-date BrokerCheck report of Brian Simms is available here.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the lawsuits and complaints mentioned in this article, unless otherwise indicated.
Investor Rights Attorneys Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. I started searching for user reviews to know which drug is better. On , I’ve found a lot of useful information on both and chosen Tramadol. By the way, you can order drugs from them too. Investor rights attorneys Alan Rosca , a securities lawyer and adjunct professor of securities regulation, and Paul Scarlato, a securities lawyer, have represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors or insurance clients who believe they lost money as a result of Brian Simms’ alleged violation of Indiana Securities Law, fraud, breach of contract and negligence may contact attorneys Alan Rosca or Paul Scarlato for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law or pscarlato@rscounsel.law. They can also be reached through the contact form on this webpage.
