Richard Sica Facing Merrill Lynch Client Dispute

Merrill Lynch Client Files Dispute About Richard Sica

Investment loss recovery counsel at Soreide Law Group provide you with the following information regarding securities broker Richard Sica (CRD#: 1756940, Ridgefield, Connecticut). Evidently, this person works for Merrill Lynch as both a financial advisor and securities broker. Apparently, there are four investor disputes on Sica’s record, and a couple of those disputes concern Merrill Lynch clients who alleged damages on mutual funds. Let’s take a closer look at these allegations against Sica.

Richard Sica’s Merrill Lynch Client Alleges Damages In Connection With Mutual Fund Holdings

Evidently, a Merrill Lynch client disputed Richard Sica’s sales practices. In this March 2020 dispute, the client claimed that their instructions were not followed in March 2020. Supposedly, from March 4, 2020 to March 30, 2020, there was a miscommunication relating to a mutual fund sale order. Because of this, the client received a $13,389.88 payment from Merrill Lynch in a June 2020 settlement.

Client Of Merrill Lynch Alleges Failure To Follow Instructions In Dispute About Sica

It appears that a second client of Merrill Lynch came forward with a dispute about Richard Sica’s actions. Mainly, the client contended in this March 2020 complaint that Sica failed to follow instructions in March 2020. It seems that Sica may have caused the client to incur damages in their Merrill Lynch account. For this reason, Merrill Lynch and the client arranged a settlement where the securities firm paid them $10,160. Accordingly, this matter settled in May 2020.

Prior Disputes About Richard Sica

Notably, there are two additional disputes on Richard Sica’s record alleging sales practice violations at prior securities firms. It appears that in one complaint, an investor alleged a misunderstanding resulting in a seemingly unauthorized purchase of shares. Evidently, that client received $14,500 in a settlement. The other prior dispute alleged the broker’s failure to apply commission discounts. This client obtained $10,707 in a settlement.

Did You Lose Money By Investing Through Sica?

Have you sustained losses because of Richard Sica? If so, contact Soreide Law Group at (888) 760-6552 and speak with us about the possible recovery of investment losses. Soreide Law Group represents its clients on a contingency fee basis and advances all costs. The firm has recovered compensation for many investors in the United States who suffered losses due to financial advisors and securities brokers. FINRA BrokerCheck indicates that Sica denies all accusations of sales practice violations.

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