- September 12, 2019
- Merrill Lynch
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.
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