Merrill Lynch, Pierce, Fenner & Smith Inc. is a New York-based (One Bryant Park, New York, New York 10036) brokerage firm and investment advisor firm regulated by FINRA. The firm engages in business through its subsidiaries, providing financial planning, products and services, including wealth management, asset management, insurance, annuities and estate planning. Merrill Lynch is a wealth management division of Bank of America. It was an independent company prior to its January 2009 acquisition by Bank of America. Its CRD number is 7691.
The firm has an extensive history of customer complaints lawsuits, Financial Industry Regulatory Authority (FINRA) arbitration claims and regulatory actions. For example, according to its CRD, the firm has had 1533 total disclosures. The arbitration actions have alleged unsuitable investment recommendations, fraud, breaches of fiduciary duty, churning, selling away, theft, negligence and other similar causes of actions.
Like most brokerage firms, Merrill Lynch has a binding arbitration clause with its customers that obligates clients to arbitrate claims instead of pursuing those actions through lawsuits in courts. This means if a customer wishes to sue the firm, it must be done through arbitration at the (FINRA) forum.
The Stoltmann Law Offices exclusively represents investors from across the country in securities litigation and FINRA arbitration actions. Our attorneys have handled approximately one thousand investment securities fraud cases and related court cases. Our Chicago based law firm exclusively focuses on FINRA securities arbitration claims and individual lawsuits against financial institutions, financial advisors, mutual fund firms and insurance companies throughout the United States. Stoltmann Law Offices securities arbitration lawsuits concentrate on brokerage firms, mutual fund companies and registered investment advisors engaging in unlawful investment conduct.
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