Merrill Lynch broker Jacquin Fink, has customer complaints against her. According to the complaints filed with the Financial Industry Regulatory Authority (FINRA), she has been accused of making unsuitable investment recommendations, misrepresentations, excessive trading, and unauthorized trading, among others. In April 2016, a customer alleged that unsuitable investment recommendations were made by Fink and that she participated in excessive trading. This occurred from October 2013 until January 2016 and caused $581,144 in damages. In a separate complaint, another customer alleged that unsuitable investment recommendations and misrepresentation occurred in August 2015.
Brokers such as Fink have a responsibility to treat investors fairly, which includes obligations such as making only suitable investment recommendations for the client. In order to make suitable recommendations, a broker must meet certain requirements. There must be reasonable basis for the recommendation, based on certain factors, such as a client’s age, net worth, investment objectives and sophistication. Other factors include the broker’s investigation and due diligence into the investment’s properties including its benefits, risks, tax consequences, and other relevant factors. If the broker does not take these factors into account, his brokerage firm can be liable for investment losses, as the firm is required to reasonably supervise the broker and his activities.
According to her FINRA online BrokerCheck report, Jacquin Fink has six customer disputes against her, two of which are pending. She has been registered with Merrill Lynch in New York, New York since September 1978. Please call our Chicago-based law offices to speak to an attorney for free about your options of suing Merrill Lynch in the FINRA arbitration forum on a contingency fee basis.
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