- March 11, 2019
- Merrill Lynch
Robert Gerstein is a Financial Advisor at Merrill Lynch in its New York, NY branch office. Robert Gerstein has been in the securities industry since 1977 and has worked with Merrill Lynch for his entire career.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Robert Gerstein has four (4) customer complaints disclosed on his CRD, including three pending complaints, alleging sales practice violations. Among the customer complaints include the following:
- December 2018—”The Customer alleges unsuitable investment recommendations and misrepresentation from April 2016 to October 2018.” Damages are unspecified and the matter remains pending.
- December 2013—”THE CUSTOMER ALLEGES UNSUITABLE INVESTMENT RECOMMENDATIONS FROM MAY 2012 TO DECEMBER 2013.” The matter was settled for $8,889.
- October 2002—”CUSTOMER ALLEGES HIS FINANCIAL ADVISOR SOLD BONDS AND PURCHASED LONG TERM MUTUAL FUNDS IN HIS ACCOUNT WITHOUT HIS AUTHORIZATION. NO DAMAGES ALLEGED.” Damages were unspecified.
- January 1987—”CLAIM OF UNAUTHORIZED TRADING WITH DAMAGES OF $320,000.” The matter was settled for $275,000.
For a copy of the Robert Gerstein’s CRD, click https://brokercheck.finra.org/individual/summary/840752#disclosuresSection
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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