Merrill Lynch Clients Take Aim At Broker Jacquin Fink Over Allegedly Unsuitable Trading
Investor Alert! FINRA BrokerCheck shows that investors continue to dispute the sales practices of Merrill Lynch broker Jacquin Fink (CRD#: 207807, New York, New York). Apparently, no less than 10 Merrill Lynch clients disputed Fink’s sales practices, and all of those claims settled through payments to clients. Notably, these disputes suggest that Fink made unsuitable investment recommendations and was responsible for his clients’ losses.
Merrill Lynch Client Alleges That Jacquin Fink Gave Bad Investment Advice
Apparently, a client of Merrill Lynch brought FINRA Arbitration #: 19-00005 on January 2, 2019. Namely, the client suggested that Jacquin Fink made bad investment recommendations about stocks and foreign debt investments. Allegedly, Fink did not have a reasonable basis to believe that those aggressive and speculative investments were suitable. Evidently, on October 23, 2019, Merrill Lynch opted to settle this dispute through making a $800,000 payment to the client.
Client Alleges That Fink Made Unsuitable Trades
A second Merrill Lynch client brought FINRA Arbitration #: 18-00018 on February 7, 2019. Allegedly, Jacquin Fink made unsuitable municipal debt trades which produced losses for the client’s account. Supposedly, Fink failed to take into account the client’s risk tolerance, investment objectives or other needs when making trades. For this reason, on February 7, 2019, Merrill Lynch compensated this client to the tune of $263,000.
Merrill Lynch Client Suggests That Jacquin Fink Failed To Disclose Information About Stocks
Evidently, a third client of Merrill Lynch brought FINRA Arbitration #: 17-02856 on November 20, 2017. In this Statement of Claim, the client made allegations of omissions and unsuitable recommendations. Allegedly, from December 2007 to October of 2016, Jacquin Fink omitted important details about stock trades. It seems that the client made decisions that he would not have otherwise made because of these omissions. Given the circumstances; Merrill Lynch made a $75,000 payment to the client on December 13, 2018 to put this matter to rest.
Client Alleges Fink Made Excessive Trades
A fourth Merrill Lynch client disputed Jacquin Fink’s sales practices through bringing FINRA Arbitration #: 16-01043 on April 18, 2016. It appears that from October 2013 to January 2016, Fink excessively traded stocks in the client’s account which appear to have generated losses. Also, the client alleged that Fink’s advice was unsuitable and problematic. Finally, Fink allegedly falsified information about investment transactions or he otherwise misled the client. Evidently, the client received a $402,500 payment from Merrill Lynch to settle the matter in 2016.
Lars Soreide Highest Ethical Standard Award 2018
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