Andrew Raskin of Palm Beach Gardens, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $32,500.00 in damages based upon allegations that Raskin made unsuitable investment recommendations during the time that Raskin was associated with Merrill Lynch Pierce Fenner Smith Incorporated. FINRA Arbitration No. 21-01457 (October 15, 2021).
FINRA Public Disclosure shows that Raskin is referenced in three other customer initiated investment related disputes concerning Raskin’s conduct while associated with securities broker dealers. On December 23, 2008, a customer initiated investment related complaint involving Raskin’s conduct was settled for $400,000.00 in damages based upon allegations that Raskin recommended auction rate securities which poorly performed during the period that Raskin was associated with UBS Financial Services Inc.
On October 19, 2011, another customer filed an investment related complaint involving Raskin’s conduct in which the customer requested $17,000.00 in damages based upon allegations that Raskin made misrepresentations of material fact in connection with the recommendation and sale of variable annuities during the time that Raskin was associated with Chase Investment Services Corp. The securities broker dealer denied the customer’s complaint.
Raskin was also referenced in a customer initiated investment related complaint that was settled on November 30, 2011, for $63,249.30 in damages based upon allegations that Raskin caused the customer to believe that their structured product investments were risk-free when Raskin was associated with UBS Financial Services Inc.
Raskin’s stockbroker and investment advisor representative registrations with Merrill Lynch Pierce Fenner Smith Incorporated were terminated on December 13, 2022. Since December 14, 2022, he has been registered with LPL Financial LLC as both a stockbroker and investment advisor representative.
