Our firm is investigating MML Investors Services, LLC broker and investment adviser representative Sahand Elmtalab (CRD# 5484654) of Minneapolis, Minnesota in connection with a customer dispute that later evolved into both FINRA arbitration and civil litigation.
According to his FINRA BrokerCheck report, Elmtalab has been registered with MML Investors Services, LLC since February 2013 as a broker and since December 2013 as an investment adviser representative. His record reflects one customer dispute disclosure.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, Sahand Elmtalab has been registered with the following securities firms:
- MML Investors Services, LLC — 02/2013 to Present
- Northwestern Mutual Investment Services, LLC — 04/2008 to 02/2013
FINRA reports that Elmtalab has worked as a registered representative with MML Investors Services since February 2013 and as an agent with MassMutual Life Insurance Company since January 2013.
Elmtalab also reports the Chartered Financial Consultant professional designation.
His disclosed outside business activities include insurance sales through M&E Catalyst Group, ownership interests in several real-estate entities, consulting and coaching through M&E Coaching Group, sports collectibles activities, compensated board service, bank-loan referral activity, and ownership of an aircraft-leasing entity.
Sahand Elmtalab Allegations and Investor Complaint Explained
FINRA BrokerCheck reflects one customer dispute involving Sahand Elmtalab.
According to the disclosure, the complainants allege that Elmtalab was involved in a 2024 premium financing referral to a third party. The complainants allege that the third party accepted $500,000 from them to obtain a line of credit that would be used to make interest payments on whole life insurance policies, but failed to complete the transaction or return the funds.
The complainants further allege that Elmtalab failed to inquire into red flags surrounding the transaction.
Pending FINRA Arbitration and Civil Litigation: Premium Financing Referral Allegations
The BrokerCheck disclosure identifies MML Investors Services, LLC as the employing firm when the alleged activities occurred.
The disclosure provides the following information:
- Disclosure Type: Customer Dispute
- Firm: MML Investors Services, LLC
- Allegations: Involvement in a premium financing referral to a third party and alleged failure to investigate red flags surrounding the transaction
- Amount allegedly provided to third party: $500,000
- Purpose of financing: Line of credit intended to fund interest payments on whole life insurance policies
- Product Type: Insurance
- Alleged Damages: Greater than $50,000
- Complaint Received: 06/22/2026
- FINRA Arbitration: Pending
- FINRA Docket #: 26-01503
- Civil Litigation: Pending
- Court: State of Minnesota Fourth Judicial District, County of Hennepin
- Civil Case #: 27-CV-26-12095
Broker’s Statement
According to the BrokerCheck report, Elmtalab states that he “has been moved from the Subject of the lawsuit to a Defendant.”
The disclosure also lists internal case numbers associated with the matter.
Disclosure Summary
- Customer Dispute — Evolved into FINRA Arbitration and Civil Litigation
- Firm involved: MML Investors Services, LLC
- Alleged conduct: Involvement in a 2024 premium financing referral
- Third-party funds: $500,000 allegedly provided to obtain a line of credit
- Purpose: Interest payments on whole life insurance policies
- Additional allegation: Failure to inquire into alleged red flags
- Alleged damages: More than $50,000
- FINRA arbitration: Pending
- FINRA case #: 26-01503
- Civil litigation: Pending
- Court: State of Minnesota Fourth Judicial District, Hennepin County
- Civil case #: 27-CV-26-12095
- Broker statement: Elmtalab reports that he was moved from a subject of the lawsuit to a defendant
Conclusion
Investors reviewing this disclosure should understand that the underlying allegations remain unresolved. Although the BrokerCheck entry indicates the written complaint itself is no longer pending, the matter subsequently evolved into a pending FINRA arbitration and pending civil litigation in which Elmtalab is identified as a named party.
FINRA cautions that disclosure events may involve allegations that are contested, unresolved, or unproven and may ultimately be withdrawn, dismissed, resolved in favor of the broker, or otherwise concluded without a finding of wrongdoing.
Investors considering doing business with Sahand Elmtalab may want to review his complete FINRA BrokerCheck report under CRD# 5484654 for the most current information concerning his registration and disclosure history.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Premium financing arrangements used in connection with life insurance can involve significant financial risks and may depend on third-party lenders, financing intermediaries, collateral requirements, repayment obligations, and other contractual terms.
In Elmtalab’s reported matter, the complainants allege that a third party accepted $500,000 in connection with a proposed line of credit for interest payments on whole life insurance policies but failed to complete the transaction or return the funds. They further allege that Elmtalab failed to investigate red flags surrounding the transaction. These allegations remain subject to pending arbitration and civil litigation.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, unsuitable recommendations, misrepresentations, and other investment-related misconduct. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis.
Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.