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Have You Suffered Investment Losses with Former Merrill Lynch, Pierce, Fenner & Smith Financial Advisor Frank Zito?

Posted on Thursday, October 25th, 2018 at 10:49 am    

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Erez Law is currently investigating former Merrill Lynch, Pierce, Fenner & Smith financial advisor Frank Zito (CRD# 2766336) regarding selling away, which is selling investments outside of the firm’s supervision. Zito has been registered with Coker & Palmer in Jackson, Mississippi since August 2018. Previously, he was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Ridgeland, Mississippi from 2010 to July 2018, when he was terminated regarding, “Conduct including failure to adhere to Firm standards regarding selling away and failure to fully disclose participation in an outside business activity.”

Zito has been the subject of two customer complaints between 2008 and 2018, one of which was closed without action, according to his CRD report. The recent complaint is regarding:

May 2018. “The Customer alleges selling away and unsuitable investment recommendations from 2013 until January 2018.” The customer is seeking $571,000 in damages and the case is currently pending.

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 may be liable for investment or other losses suffered by Zito’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.