Alex Jose Gierbolini of Guaynabo Puerto Rico a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim in which the customer sought $265,000.00 in damages founded on accusations that misrepresentations had been made to the customer and mutual fund transactions were placed in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 18-03307 (September 26, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Gierbolini has been identified in twenty-one more customer initiated investment related disputes pertaining to allegations of Gierbolini’s misconduct during the time that he was associated with Merrill Lynch Pierce Fenner Smith, UBS Financial Services Inc. and Popular Securities Inc. Specifically, on February 6, 2009, a customer initiated investment related complaint regarding Gierbolini’s activities was settled for $67,145.73 in damages based upon accusations that an unauthorized over-the-counter equities purchase had been effected in the customer’s account.
Subsequently, a customer initiated investment related arbitration claim involving Gierbolini’s conduct was resolved for $187,500.00 in damages supported by allegations that it was not appropriate for the customer to have been advised to use leverage and purchase debt investments. FINRA Arbitration No. 14-01504 (January 28, 2016). Then, a customer initiated investment related arbitration claim regarding Gierbolini’s activities was settled for $25,000.00 in damages founded on accusations of unsuitable advice, misrepresentations and omissions regarding securities held in the customer’s investment account. FINRA Arbitration No. 14-01828 (Mar. 22, 2016).
In addition, a customer initiated investment related arbitration claim concerning Gierbolini’s conduct was resolved for $1,088,000.00 in damages based upon allegations that investment recommendations made to the customer were not suitable, and misrepresentations were made to the customer concerning the customer’s investments in closed end funds. FINRA Arbitration No. 15-00731 (July 12, 2017). Moreover, a customer initiated investment related arbitration claim involving Gierbolini’s activities was settled for $688,000.00 in damages supported by accusations that the firm failed to supervise Gierbolini’s activities in the customer’s account in reference to the customer’s closed-end funds and municipal bond holdings. FINRA Arbitration No. 16-02854 (Oct. 4, 2016).
Further, a customer filed an investment related arbitration claim regarding Gierbolini’s conduct where the customer requested $2,000,000.00 in damages founded on allegations that the customer was provided bad investment advice with respect to closed-end funds and municipal-debt investments, and that omissions and misrepresentations had been made concerning those investments. FINRA Arbitration No. 17-01639 (June 20, 2017). Following this point, a customer filed an investment related arbitration claim concerning Gierbolini’s activities in which the customer sought $600,000.00 in damages based upon accusations of unsuitable recommendations and misrepresentations concerning bond investments held in the customer’s investment portfolio. FINRA Arbitration No. 17-02719 (Oct. 13, 2017).
Then, a customer initiated investment related arbitration claim involving Gierbolini’s conduct was resolved for $280,000.00 in damages supported by allegations of over-concentration, unsuitability and misrepresentation in reference to closed end funds held in the customer’s account. FINRA Arbitration No. 18-03185 (Sept. 11, 2018).
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