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Merrill Lynch Financial Advisor, Bernie Adair, Has Eight Customer Complaints Disclosed On His CRD Allegeding Various Sales Practice Violations

Bernie Adair (CRD # 1535429) is a Financial Advisor at Merrill Lynch in Jupiter, FL.  Bernie Adair has been in the securities industry since 1986 and previously worked at Dominick & Dominick, Prescott, Ball & Turben, Gulfstream Financial, First American Asset Management Group, and Welco Securities.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Bernie Adair has eight customer complaints disclosed on his CRD, including the following:

  • July 2019 – “The Power of Attorney for client alleges an unsuitable investment recommendation, misrepresentation and improperly completed account documentation concerning a variable annuity.”  Alleged damages are $550,000.  The matter is currently pending.
  • June 2009 – “CLIENT ALLEGES THAT THE FINANCIAL ADVISOR MADE UNAUTHORIZED TRADES AND UNSUITABLE INVESTMENT RECOMMENDATIONS AND FAILED TO FOLLOW INSTRUCTIONS.”  The matter settled for $45,000.
  • October 1996 – “CLIENT ALLEGES UNSUITABLE TRADING IN STROCKS AND MUTUAL FUNDS INCLUDING UNAUTHORIZED TRADES AND THE USE OF MARGIN AND SEEKS ACTUAL DAMAGES OF $100,000 AS WELL AS UNSPECIFIED INTEREST, COSTSS AND ATTORNEYS’ FEES.”  The matter settled for $75,000.

For a copy of Bernie Adair’s CRD, click https://brokercheck.finra.org/individual/summary/1535429.

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 mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]