Josh Baker: Variable Annuity Dispute Seeks $5 Million

Josh Baker (CRD# 5230762[1]), a broker registered with MML Investors Services, allegedly engaged in conduct that led to 7-figure damages, according to Financial Industry Regulatory Authority records viewed on October 24, 2023. MDF Law is currently investigating the Hoover, Alabama broker for allegations of misconduct. Investors should contact us if they have concerns. As his FINRA BrokerCheck profile reflects, Mr. Baker operates as a member of Baker Camp Arnold Capital Management. 

Pending Disputes Allege Forgery, Misrepresentation

Two parties of investors filed disputes involving Mr. Baker in September 2023. One party alleged misrepresentations relating to whole life insurance and variable annuity investments, falsified signatures, and fraudulent representations that led to $5 million in damages. The other alleged that the misrepresentation of a variable annuity[2] and mismanagement of a wrap account, leading to $99,000 in damages. Both disputes are still pending.

FINRA Rules Establish High Standards of Commercial Honor

Various FINRA rules guarantee investor protections against the forms of broker misconduct that the above-described disputes allege. Under FINRA Rule 2010[3], for example, brokers must observe high standards of commercial honor and just and equitable principles of trade. At the same time, FINRA Rule 2020[4] prohibits them from using “manipulative, deceptive, or other fraudulent device[s] or contrivance[s]” to solicit or conduct securities transactions.

What Is Baker Camp Arnold Capital Management?

As Mr. Baker’s BrokerCheck record notes, he operates as a member of Baker Camp Arnold Capital Management. The firm’s website asserts that its philosophy stresses strategic asset allocation, a combination of active and passive investment strategies, and diligent research. “We believe that investing alongside a plan is the best way for our clients to achieve the outcome they desire,” a page[5] describing this philosophy explains. 

Mr. Baker’s own profile page[6] describes him as the firm’s Principal Owner and Managing Director, noting that he has worked in the financial services industry for almost two decades. “He currently holds his AIF®, CPFA®, and CLTC while pursuing multiple further designations, always staying abreast of the everchanging [sic] policies and laws pertaining to insurance and investment planning,” according to his bio. “Josh has visited Capitol Hill numerous times, meeting with members of congress and their staffers, ever mindful of protecting his clients.”

FINRA: Josh Baker Based in Hoover, Alabama

Josh Baker started his career as a broker in 2010, when he registered with Northwestern Mutual Investment Services in Hoover, Alabama. He remained at the firm until 2017, when he departed to register with MML Investors Services’ office in Hoover. According to his BrokerCheck profile, he is a member of Baker Camp Arnold Capital Management. With 13 years of experience as a broker, he has completed three industry exams, including the SIE and the Series 63. 

Fraud Concerns? Call MDF Law for a Free Consultation

MDF Law has recovered tens of millions in lost funds for the victims of broker fraud. If you have complaints about investments recommended by Josh Baker, call us today to discuss whether you have recovery options. Our attorneys offer free consultations across the US. Call 800-767-8040 to speak with our team today.