An insurance salesman was accused by Massachusetts authorities on Wednesday of masquerading as an investment advisor and convincing seniors to withdraw from their retirement investment accounts to purchase fixed indexed annuities through his company.

According to Secretary of State William Galvin, Ryan Patrick Skinner and his company Summit Financial Partners in Woburn, Mass., made more than $4 million through the scheme by promising to offer personalized financial advice and planning services to their clients.

The complaint said Skinner, who called himself a “retirement specialist” and his company, merely sold the same fixed indexed annuity products over and over to at least 128 clients. Skinner, through Summit, received a 7% commission on the initial premium for each annuity he sold, the complaint said.

The complaint said Skinner sent invitations for “free lunch” events related to Social Security and retirement planning to New England residents at their home addresses. The events were held in hotels and restaurants in New England, primarily in the greater Boston area, the complaint said. Many of the individuals who attend the events purchase annuities from Skinner.

Skinner, the complaint noted, was registered with Financial Industry Regulatory Authority from August 2002 through October 2008 as a general securities representative through six different broker-dealer firms.

In January 2013, he was suspended and fined $2,500 for violations of Finra rules. He has not been registered with the Securities and Exchange Commission or Finra since Aril 2017, the complaint said.

The state seeks restitution to fairly compensate investors for their losses and disgorgement of all profits.