Barred Financial Advisor, George Merhoff, Has Twenty-Seven Customer Complaints, Including Seven Pending Complaints, Alleging Sales Practice Violations
George C. Merhoff, Jr. was a Financial Advisor at Cetera Advisors LLC and Pacific West Securities, Inc. in Klamath Falls, OR, and at AAG Securities, Inc. in Cioncinnati, OH. George Merhoff entered the securities industry in 1997.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), George Merhoff has twenty-seven customer complaints, alleging sales practice violations, including seven pending complaints. In addition, George Merhoff has been the subject of multiple regulatory actions, which has resulted in him being barred from the securities industry.
In June 2019, George Merhoff “failed to provide documents and information requested by FINRA in connection with its review of his issuance of consolidated account reports to customers and his making of undisclosed payments to customers.” FINRA barred George Herhoff indefinitely from acting as a broker or otherwise associating with a broker-dealer firm.
For a copy of the FINRA sanction, click http://www.finra.org/sites/default/files/fda_documents/2018057331001%20George%20C.%20Merhoff%20CRD%202918171%20AWC%20va%20.pdf
In August 2017, the Oregon Department of Consumer and Business Services, Division of Financial Regulation, sanctioned George Merhoff and his firm $70,000.
In addition to the regulatory events, Gabriel Block has been the subject of numerous customer complaints, including the following:
- April 2019 – “Negligence and Breach of Fiduciary Duty.” Alleged damages are $150,000, and the matter is currently pending.
- February 2019 – “Violations of Oregon Securities Laws and FINRA rules, Breach of Fiduciary Duty, Unsuitable Investments, Negligence, Breach of Contract.” The customer alleges $450,000 in damages, and the matter is currently pending.
- October 2018 – “Neligence, Breach of Fiduciary Duty and Contract, and Violation of Oregon Securities Law.” Alleged damages are $500,000.
- October 2018 – “Violation of Oregon Securities Law, Breach of Fiduciary Duty, Unsuitable Investment Recommendations, Violation of NASD And FINRA Rules, Negligence, and Breach of Contract.” Alleged damages are $306,635.
George Merhoff had a $15,948.87 tax lien in April 2018, and another $139,078.02 tax lien in September 2016. For a copy of George Merhoff’s CRD, click https://brokercheck.finra.org/individual/summary/2918171.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
- FINRA Reports That Margin Levels in Customer Accounts Have Reached All-Time Highs of More Than $722 Billion
- How to Stop Stock Loss Caused by Your Broker-Dealer
- Former LPL Financial LLC Broker, Maziar Monshi, Has Had Three Customer Complaint Disclosures Alleging Sales Practice Misconduct
- Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker, John Gatto, Has Had Eight Customer Complaint Disclosures Alleging Sales Practice Misconduct
- Wells Fargo Clearing Services, LLC Broker, Kevin Schaefer, Has Had Six Customer Complaint Disclosures Throughout His Career
- Former LPL Financial Broker, Michael Tavel, Suspended by FINRA for 18 Months After Allegedly Participating in Private Securities Transactions Away from His Member Firm
- R.F. Lafferty & Co., Inc. Broker Jay Tomlinson Suspended For Three Months and Fined After Allegations of Improperly Exercised Discretion Without Proper Authorization
- Customer Dispute Pending Against Morgan Stanley Broker and Investment Adviser Darryl Cohen for Alleged Misappropriation of Funds
- FINRA Regulatory Complaint Filed Against Investment Adviser and Former Westpark Capital, Inc. Broker, Gregory McCloskey, for Making Private Securities Transactions
- Former J.P. Morgan Securities LLC Financial Advisor, Paul Zakhary, Suspended and Fined By FINRA Over Suitability Rule Violations