Brokers must understand their customers, their finances, their goals, and their risk tolerances so that they can avoid making unsuitable investment recommendations. If they fail to meet this basic professional obligation, they can be held accountable by organizations like the Financial Industry Regulation Authority (FINRA). According to a recent FINRA BrokerCheck report, Merrill Lynch broker Heather Peterson Weber may have engaged in this exact form of misconduct, as she has two pending client disputes over unsuitable investment recommendations and misrepresentation, and eight prior customer complaints for the same conduct.
Heather Weber has been working at Merrill Lynch since 2006. In that time, she has been the subject of 10 total customer disputes, a number that puts her in the bottom 1% of brokers across the country. Two of those complaints are currently pending, with her clients requesting damages in the amounts of $1 million and $350,000 respectively. The $1 million dispute was filed over two years ago in March 2017 and alleges that she engaged in misconduct between 2011 and 2014.
If you are one of the clients victimized by Ms. Weber’s actions, you could have legal rights for any losses you sustained.
At Meyer Wilson, our securities arbitration lawyers have represented more than 800 investors whose brokers engaged in unsuitable investments. Collectively, we have recovered over $350 million on behalf of our clients across the nation. It’s our goal to help you root out securities and investment fraud – and ensure that you receive fair compensation for your financial losses.
To speak with a member of our team, call (614) 532-4576 for a confidential consultation.