When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
CLAIMANT ALLEGES UNSUITABILITY WITH RESPECT TO HER FA'S INVESTMENT RECCOMENDATIONS AND THE ASSET ALLOCATION IN HER ACCOUNT.
Damage Amount Requested
$44,867.00
Settlement Amount
$20,000.00
Broker Comment
MERRILL LYNCH SETTLED THIS MATTER FOR BUSINESS REASONS.
8/14/2001
Customer Dispute
Closed-No Action
Allegations
CUSTOMER ALLEGES THAT THE FA SHOULD HAVE TOLD HER TO SELL SHARES OF AMAZON BEFORE THEY DECLINED IN VALUE. NO SPECIFIC DAMAGES ALLEGED.
Broker Comment
RESPONDED TO NO MERIT - AS PER MERRILL LYNCH'S RESPONSE DATED 11/23/01
3/27/2001
Customer Dispute
Denied
Allegations
CLAIMANT, AN EMPLOYEE OF AMAZON.COM CLAIMS THAT HER FINANCIAL CONSULTANT FAILED TO ADVISE HER TO SELL AMAZON.COM STOCK AND DIVERSIFY.
Damage Amount Requested
$220,500.00
Broker Comment
MERRILL LYNCH AND MR. COOK DENY THE ALLEGATIONS. MR. COOK, IN FACT, RECOMMENDED NUMEROUS TIMES THAT CLAIMANT SELL SOME AMAZON.COM AND DIVERSIFY. EACH RECOMMENDATION WAS REJECTED AS CLAIMANT STATED SHE WANTED TO WAIT UNTIL THE STOCK PRICE INCREASED.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Loading...
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.