Merrill Lynch’s Roberto Fernandez Allegedly Sold Unsuitable And Misrepresented Investments

Soreide Law Group is investigating possible investor claims against securities broker Roberto A. Fernandez (CRD#: 1404389, Miami, Florida). Namely, Fernandez discloses on his FINRA BrokerCheck report that four or more of his clients brought formal disputes about him. Notably, these investor disputes include two that settled by payments to investors and two which are ongoing. Here is more on the allegations against Fernandez:

August 6, 2019 Arbitration Claim Suggests Roberto Fernandez Gave Bad Advice

Evidently, Merrill Lynch client brought FINRA Arbitration #: 19-02201 on August 5, 2019. First of all, the client alleged that Roberto Fernandez improperly advised the client. Supposedly, Fernandez’s investment recommendations were unreasonable. Not only that, but the client alleged that Fernandez misrepresented information about investments. Because of losses on municipal debt investments Fernandez purportedly recommended, the client seeks $1,260,000 in damages. This matter is currently ongoing.

Merrill Lynch Client Indicates Fernandez Misrepresented Investments

Also, on November 16, 2018, one or more Merrill Lynch clients filed FINRA Arbitration #: 18-03965. Allegedly, Roberto Fernandez gave the client bad investment advice about government bonds, notes or other debt investments. Allegedly, Fernandez misled the client about the risks of these investments, or he may have made some other false statement in regard to the investments that the client purchased. For this reason, the client seeks compensatory relief in this pending action.

Roberto Fernandez Allegedly Makes Unauthorized Trades In Investor’s Account

Moreover, several Merrill Lynch clients contested Roberto Fernandez’s sales practices through bringing FINRA Arbitration #: 17-01720 on June 29, 2017. Allegedly, Fernandez made unauthorized trades in this client’s account. Like the other clients, this client suggested that Fernandez purportedly provided unsuitable advice. Apparently, the customer experienced losses because of acting on Fernandez’s advice. As a result, on November 28, 2018, Merrill Lynch opted to pay $380,000 to the client to resolve the matter.

Fernandez Recommends Bad Alternative Investments According To Merrill Lynch Client

It appears that a multitude of Merrill Lynch investors challenged Roberto Fernandez’s investment recommendations. FINRA BrokerCheck even shows in a 2012 dispute that Fernandez allegedly misrepresented ETFs, options, CMOs and stocks. Although the client alleged $500,000 in damages in that dispute, it closed with no action in 2014.

Investment Loss Lawyers At Soreide Law Group

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses by investing with Roberto Fernandez? 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.