Did Debra Lambert Excessively Trade Your Account?

The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations against Raymond James and Merrill Lynch securities broker Debra Lambert (CRD#: 2238553, The Villages, Florida). Notably, at least 1 Raymond James client and 2 Merrill Lynch clients filed disputes contesting Lambert’s sales practices. Here’s a summary of the allegations that clients voiced against her:

Raymond James Client Files FINRA Arbitration Suggesting Debra Lambert Churned Account

Raymond James reported that on September 13, 2018, a client of the firm brought FINRA Arbitration #: 18-03198. Apparently, from June 2014 to September 2017, Debra Lambert breached a fiduciary responsibility to the client and dishonored an investment agreement. Allegedly, Lambert unreasonably sold the client fixed products including municipal debt instruments. The client also claimed that Lambert misrepresented and omitted key facts about investments. Finally, Lambert allegedly churned the client’s account, trading primarily to generate commissions or fees. Because of this, the client alleged $135,000 in damages. However, this mater closed without resolution on April 1, 2019.

Merrill Lynch Client’s FINRA Arbitration Claim Suggests Lambert Excessively Traded

Evidently, on September 11, 2018, a client of Merrill Lynch filed a FINRA Arbitration. The client contended that Debra Lambert made excessive mutual funds trades from 2007 to 2014. Lambert allegedly gave this client bad advice about mutual funds. Also, the client suggested that Lambert misrepresented facts about investments she sold. For this reason, the client seeks an unspecified amount of compensatory relief in this pending matter.

Client Of Merrill Lynch Files Dispute Over Debra Lambert’s Allegedly Unsuitable Recommendations

BrokerCheck shows that on March 3, 2016, a Merrill Lynch client filed FINRA Arbitration #: 16-00228. First of all, the client alleged that Debra Lambert made unsuitable recommendations. Supposedly, Lambert unreasonably advised the client on municipal debt instruments and mutual funds. The client also claimed that Lambert traded excessively and without the client’s permission. Evidently, on July 17, 2017, Merrill Lynch opted to pay the client $47,000 to resolve this matter.

Suffered losses by investing with Debra Lambert? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.