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Broker Misconduct Investigation: Douglas Licari (MML Investors Services)

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Updated on: July 15, 2025

National investment loss lawyers KlaymanToskes is investigating broker Douglas Licari (CRD# 1081503) of MML Investors Services.

According to FINRA BrokerCheck, broker Douglas Licari of MML Investors Services is involved in a customer dispute alleging $200,000 in investor damages and unsuitable recommendations to invest in alternative investments. 

Investors that suffered losses with broker Douglas Licari are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

Douglas Licari Hit With Customer Complaint at MML Investors Services

Douglas Licari, a broker registered with MML Investors Services, is reportedly involved in a  customer dispute. The customer alleges $200,000 in damages in connection with recommendations of alternative investments, which have since lost money, and which were not good investments. The complaint allegedly relates to Limited Partnerships. Licari is currently registered with MML Investors Services in East Hills, NY. 

Investment Losses with Broker Douglas Licari?

Investment Losses with Broker Douglas Licari?

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Signs Investors Should Look Out For About Their Brokerage Accounts

As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:

  • You have substantial losses in your investment accounts
  • You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
  • Your broker misrepresented investment opportunities, or failed to disclose details about investments
  • You notice unauthorized transactions in your investment accounts
  • Your broker is not returning your calls or emails
  • You filed a complaint with your brokerage firm that has not been resolved
  • You see a mistake on your statement, or receive a fraudulent statement

Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.

Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.

If you suffered losses with broker Douglas Licari, or have concerns regarding your investment portfolio at MML Investors Services LLC, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.