Securities Lawyers Blog
According to BrokerCheck records financial advisor Jeffrey Smith (Smith), currently employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated (Smith) has been subject to at least eight customer complaints during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Smith’s customer complaints allege that Smith recommended unsuitable securities recommendations in equity securities among other allegations of misconduct in the handling of customer accounts.
In April 2019 a customer filed a complaint alleging that Smith violated the securities laws by, among other things, that Smith made unsuitable investments and failed to follow instructions. The claim is currently pending.
In February 2019 a customer filed a complaint alleging that Smith violated the securities laws by, among other things, that Smith made unsuitable investments. The claim is currently pending.
In October 2016 a customer filed a complaint alleging that Smith violated the securities laws by, among other things, that Smith made unsuitable recommendations from March 2015 until October 2016 causing damages. The claim settled for $50,000.