Merrill terminated 38-year Birmingham, Alabama based Advisor after settling a customer claim for $4.25 million, according to Advisor Hub and FINRA Brokercheck.
Merrill fired the advisor for “conduct including making an unsuitable investment strategy recommendation and misrepresentation to a client” tied to an options investment and also for failing “to follow Firm standards related to business communications,” according to BrokerCheck.
The customer submitted a written complaint to Merrill for unspecified damages over unsuitable sales and misrepresentations between November 2019 and November 2020, according to the CRD report for the Advisor.
Miller Stern Lawyers, LLC, a Baltimore Securities Fraud Law firm, currently represents investors for claims of fraud, investment losses and FINRA misconduct, as well as UIT switching, unauthorized trading, over concentration, irregular options trading, margin and unsuitability claims, broker fraud, securities fraud, securities litigation and other broker and broker/dealers for investment losses and fraud. If you or anyone you know have experienced investment losses from the actions above or other situations, please call 410-LAW-FIRM ( 410-529-3476 ) or fill out the contact us form for a no cost consultation and evaluation of your claim.