Mutual Service Corporation

Mutual Service Corp. is a brokerage firm for independent brokers that is headquartered in West Palm Beach, Florida. It was founded in Detroit, Michigan in 1969. In 1985, Pacific Life Insurance Company purchased a 25 percent share of the company. In 1989, Mutual Service merged with Lowry Financial Services Corporation, doubling the number of brokers. Then 1997 Mutual Service formed a strategic alliance with Titan Value Equities Group. In June of 2007, MSC became part of the LPL Financial family of companies, which is the largest independent broker/dealer in the country.

Mutual Service Corp. Ordered to Pay Customers More Than $882,000

A FINRA arbitration panel ordered Mutual Service to pay a group of investors more than $882,000 to compensate them for damages that they suffered as a result of Mutual Service’s misconduct. The investors accused Mutual Service of fraud, negligence, failure to supervise, and violation of securities statutes in relation to recommendations and sales of private money investment notes.

Mutual Service Corp. Ordered to Pay Customers $200,000

An NASD arbitration panel ordered Mutual Service to pay two investors $200,000 to compensate them for damages that they suffered as a result of Mutual Service’s misconduct. The investors accused Mutual Service of fraud, breach of fiduciary duty, churning, negligence, and failure to supervise in relation to recommendations and sales of speculative technology stocks.

If you suffered investment losses, please contact us or communicate with a Dimond Kaplan & Rothstein, P.A. attorney at 888-578-6255 or jkaplan@dkrpa.com for a free case evaluation.