Chris Eriksson Terminated From Merrill Lynch Following Allegations

Soreide Law Group has news to share with you regarding securities broker Christopher Thomas Eriksson (“Chris Eriksson”) (CRD#: 2487298, Wayzata, Minnesota). Specifically, Merrill Lynch terminated Eriksson following misconduct allegations, and six investors challenged his sales practices. Read below for more information on this securities broker's disclosures and what you could do if you experienced losses.

Merrill Lynch Disaffiliates With Chris Eriksson In October 2020 For Alleged Outside Business Activities

As shown on FINRA BrokerCheck, it appears that Merrill Lynch disaffiliated with Chris Eriksson on October 20, 2020. Allegedly, Eriksson's conduct involved outside business activities where he made arrangements with a client without permission. It appears that Merrill Lynch did not know of or approve Eriksson's actions.

Client Of Merrill Lynch Alleges Eriksson Made Unsuitable Recommendations

Evidently, a client of Merrill Lynch filed a dispute about Chris Eriksson’s sales practices. Specifically, the September 2020 FINRA Arbitration Claim concerns Eriksson’s actions relating to personal loans and a trust account. The client claimed that when Eriksson was their financial advisor, he received a loan from them for the purchase of real estate. Moreover, Eriksson is accused of making unsuitable investment recommendations. Supposedly, the securities broker’s excessive trading also caused damages to the client. Because of the alleged personal loan, unsuitable recommendations, and excessive trading, the client demands $20,000,000. This matter is ongoing.

Merrill Lynch Client Alleges Chris Eriksson Did Not Explain Risks

Also, in a dispute from 2009, a client of Merrill Lynch complained about Eriksson’s omissions. Specifically, the client’s FINRA Arbitration Claim concerns Eriksson recommending that they invest in accounts with money managers. Supposedly, the financial advisor did not address the risks of this investment opportunity. It seems that the client asked for $750,000 in compensation but withdrew the complaint.

Unauthorized Trading Alleged In Prudential Securities Investor’s Arbitration Claim About Eriksson

Next, BrokerCheck shows that a client named Chris Eriksson as a respondent in a FINRA Arbitration Claim. Notably, the client’s Statement of Claim first alleges that Eriksson breached a fiduciary duty. Secondly, the broker supposedly misrepresented and omitted facts in connection with the client’s holdings. Thirdly, the broker supposedly engaged in unauthorized trading and manipulated their account. Supposedly, Eriksson’s actions caused the client to experience losses. Evidently, the FINRA Arbitrator found Eriksson liable and ordered him to pay the client $15,534.
Further, BrokerCheck shows that three other Prudential Securities clients brought disputes about Chris Eriksson. PSI settled two of those disputes through payments to clients who alleged unsuitable investment recommendations and trading.

Did You Sustain Damages By Investing Through Chris Eriksson?

Did securities broker Chris Eriksson cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Eriksson denies all allegations of his sales practice violations.