Merrill Lynch Broker Named in FINRA Complaint Amid Allegations of Misrepresented Investment Recommendations
Landon L. Williams, a former Daytona Beach, Florida-based registered representative with Merrill Lynch, Pierce, Fenner & Smith, was named a respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he made false and/or misleading statements to customers regarding the securities transactions he was recommending. According to the FINRA complaint, Mr. Williams participated in phone conversations with five different customers and allegedly made misleading and/or false statements and/or failed to disclose material information about securities recommendations. While employed as a Financial Solutions Advisor in the firm’s Merrill Edge Advisory Center (Merrill Edge), Mr. Williams, working in a Merrill Edge call center, allegedly recommended that a customer sell her positions in the Blackrock Core Bond Fund Class C and invest in the Blackrock Funds Diversified Portfolios IV (Growth) Class A. Mr. Williams allegedly told his client that by switching to the “A” share, she would realize a 2% increase in her annual rate of return. This statement was alleged by FINRA to be false and misleading.
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