How to Bring a Claim Against Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker Michael Calvin
Posted on Wednesday, October 28th, 2020 at 11:19 am
Did you lose money investing with Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Michael Calvin (CRD# 3269670)? Calvin has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Austin, Texas since 2015.
Calvin has been the subject of two customer complaints in 2020, according to his CRD report:
July 2020. “The customer alleges excessive trading from January 1, 2019 until July 14, 2020.” The customer is seeking $485,000 in damages and the case is currently pending. The complaint was regarding managed and wrap accounts and an in-house money manager.
January 2020. “The client alleged the Financial Advisor misrepresented fees and commissions.” The case was settled for $450,388.65. The complaint was regarding common and preferred stocks.
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 Calvin’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.