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Investigation of Merrill Lynch Broker Bernard Adair

Posted on Monday, November 11th, 2019 at 8:31 pm    

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Did you lose money investing with Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Bernard Adair (CRD# 1535429)? Adair has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Jupiter, Florida since 1991.

Adair has been the subject of eight customer complaints between 1996 and 2019, three of which were denied, according to his CRD report. Three previous settled complaints were regarding unauthorized and unsuitable trades.

July 2019. “The Power of Attorney for client alleges an unsuitable investment recommendation, misrepresentation and improperly completed account documentation concerning a variable annuity.” The customer is seeking $550,000 in damages and the case is currently pending. This case is regarding common and preferred stocks and took place while Adair was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Merrill Lynch, Pierce, Fenner & Smith Incorporated may be liable for investment or other losses suffered by Adair’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.