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Jeffrey Smith: Suitability Complaints Against Merrill Lynch Rep

Jeffrey SmithPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on April 26, 2019 indicate that Michigan-based Merrill Lynch broker/adviser Jeffrey Smith has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Smith (CRD# 1908011).

Jeffrey Smith has spent 30 years in the securities industry and has been registered with Merrill Lynch in Farmington Hills, Michigan since 1989. He has no previous registrations. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on September 13, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 1, 1989; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), which he obtained on January 21, 1989. He is a registered broker and investment adviser with 38 US states and territories.

According to his BrokerCheck report, he has received five customer complaints and one pending customer complaint.

In February 2019 a customer alleged Jeffrey Smith, while employed at Merrill Lynch, recommended unsuitable over-the-counter equities. The customer is seeking unspecified damages in the pending complaint.

In 2016 a customer alleged Jeffrey Smith, while employed at Merrill Lynch, recommended unsuitable equities. The complaint settled for $50,000.

In 2016 a customer alleged Jeffrey Smith, while employed at Merrill Lynch, made unsuitable investment recommendations involving common and preferred stock products. The complaint settled for $42,980.

In 2015 a customer alleged he, while employed at Merrill Lynch, executed unauthorized trades, misrepresented and omitted material facts, and recommended unsuitable exchange-traded funds. The complaint settled for $80,000.

In 2008 a customer alleged he, while employed at Merrill Lynch, executed unauthorized transactions, misrepresented material facts, and recommended unsuitable auction rate securities. The complaint settled with the firm’s repurchase of the securities at par value, for $1,100,000.

In 2005 a customer alleged he, while employed at Merrill Lynch, made unsuitable investment recommendations. The complaint settled for $24,500.

If you have lost money investing with Jeffrey Smith, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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