Investment Loss Options for Clients of Former Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker Peter Eckerline
Posted on Monday, September 20th, 2021 at 8:29 pm
Erez Law is currently investigating former Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Peter Eckerline (CRD# 1244319) regarding mutual fund investment losses. Eckerline was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Wayzata, Minnesota from 1984 to 2021.
Eckerline has been the subject of nine customer complaints between 2001 and 2021, two of which were denied and one was closed without action, according to his CRD report. The most recent complaints are regarding:
June 2021. “The customer alleges the financial advisor did not act in their best interest regarding fee structure and asset allocation.” The case is currently pending. The complaint was regarding mutual fund losses.
March 2016. “The Customer alleges unsuitable investments from January 2015 to January 2016.” The customer sought $476,537 in damages and the case was settled for $275,000. The complaint was regarding mutual fund losses.
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 Eckerline’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.