Merrill Lynch Broker Investigated for Unsuitable Recommendations and Misrepresentations

January 14, 2020 Author: Brian Levin
merrill lynch

Merrill Lynch customer seeks $500k for Alleged Broker Misconduct Regarding CYES Investment Recommendations

Gordon Huntington Harper, Jr., CRD#: 5460504, has been employed as a financial advisor with Merrill Lynch since 2016. According to publicly available information, a customer filed a complaint against Merrill Lynch alleging that Harper made unsuitable investment recommendations and misrepresentations over a period of two years leading to damages. The customer dispute filed with the Financial Industry Regulatory Authority (FINRA) alleges damages in the amount of $500,000.

Hunt Harper, according to his profile with the Massey Schmidt Littlejohn Harper Group, is a Private Wealth Manager with Merrill Lynch Private Banking. He previously worked as a Director and Senior Investment Advisor at Edge Capital. He has 11 years of experience in the financial industry and has passed five exams, including the Securities Industry Essentials Examination. He has numerous SRO registrations and is licensed in 19 states.

A FINRA arbitration claim was filed against Merrill Lynch, alleging unsuitable recommendations, and misrepresentations made in Harvest Volatility Management’s Collateral Yield Enhancement Strategy (CYES). The CYES strategy was sold as a safe, low-risk investment strategy, but investors were not warned about the potential for significant losses in a volatile market. When the market took “wild swings” in December 2018, investors suffered substantially. Numerous complaints filed with FINRA allege that Merrill Lynch customers were not fully informed of the potential risks with CYES and other overlay strategies.

If you have suffered losses because you invested in a CYES strategy based on a financial advisor’s recommendation, you might be entitled to recovery through a FINRA arbitration. At Levin Law, we may be able to help you recover such losses through a FINRA arbitration, where we would represent you on a contingency-fee-basis. Call our offices today at (305) 402-9050 for a free consultation if you have been the victim of securities or investment fraud.

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