Investors apparently complained about securities broker Randy Harris Schild [CRD: 2410144, Boca Raton, Florida], according to disclosures on FINRA BrokerCheck. It appears that Schild has worked for Merrill Lynch Pierce Fenner Smith Incorporated since April 12, 2013. Keep reading to learn more about Schild’s disclosures involving client disputes and alleged sales practice violations.
Evidently, a Merrill Lynch Pierce Fenner Smith Incorporated client filed FINRA Arbitration No. 12-03086 about Randy Schild. The client alleged that Schild charged excessive commissions and did not act in the client’s best interest between July 2022 and June 2023. Because of this, the client allegedly sustained damages on over-the-counter equities. Therefore, on February 28, 2024, Merrill Lynch Pierce Fenner Smith Incorporated settled this matter by paying the client $35,000 in damages.
Specifically, a client of Morgan Stanley Smith Barney contested Randy Schild’s sales practices, according to a complaint dated October 12, 2012. Allegedly, Schild failed to supervise the financial advisors handling the client’s accounts, who had engaged in unauthorized trading. Supposedly Schild caused the client to sustain damages on stocks, real estate investment trusts, and equity-linked securities. As a result, the client sought damages from Morgan Stanley Smith Barney or Schild in the amount of $50,000 in this matter. The complaint was denied as of July 17, 2013.
Do you have questions about investing through Randy Schild? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities attorney. Soreide Law Group has recovered losses for investors throughout the country, works on a contingency fee basis, and advances all costs. Schild and brokerage firms Schild worked for deny any allegations of sales practice violations.
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