Peter Edward Eckerline, of Wayzata, Minnesota, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc., is the subject of a customer initiated investment related written complaint on June 16, 2021, in which the customer requested compensatory damages supported by allegations of Eckerline’s sales practice violations relating to mutual fund transactions when he was employed by Merrill Lynch. According to the complaint, the asset allocation and fee structure imposed by Eckerline was inappropriate.

Eckerline has been identified in seven additional customer initiated investment related disputes concerning accusations of his harmful activities during the time that he was registered with Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that a customer initiated investment related complaint concerning Eckerline’s activities was settled for $9,900.00 in damages founded on allegations of Eckerline’s unsuitable mutual fund trading while he was registered with Merrill Lynch.

Another customer filed an investment related complaint regarding Eckerline’s conduct where the customer sought $180,000.00 in damages based upon accusations that risks of common and preferred stock trades were misrepresented by Eckerline at Merrill Lynch. The complaint alleges that Eckerline provided unsuitable investment recommendations regarding the stock trades.

Eckerline is identified in a different customer initiated investment related written complaint which was resolved for $87,934.40 supported by allegations of bad advice by Eckerline resulting in damages to the customer. The complaint also alleges that Eckerline misrepresented information relating to a loan management account. An additional customer initiated investment related FINRA securities arbitration claim involving Eckerline’s activities was settled for $295,000.00 in damages founded on accusations of Eckerline’s unsuitable advice and misrepresentations regarding common and preferred stock transactions during the time that he was associated with Merrill Lynch.

Eckerline is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $64,500.00 in damages based upon allegations that misrepresentations and omissions had been made by Eckerline regarding equity trading at Merrill Lynch. According to the claim, Eckerline misrepresented important information regarding the customer’s investments. Another customer filed an investment related complaint concerning Eckerline’s conduct where the customer sought compensatory damages supported by accusations of Eckerline’s failure to follow the customer’s instructions relating to hedge fund transactions.

On April 26, 2017, a customer initiated investment related FINRA securities arbitration claim regarding Eckerline’s activities was resolved for $275,000.00 in damages founded on allegations of Eckerline’s unsuitable recommendations concerning mutual fund trading at Merrill Lynch.

Eckerline was registered with Merrill Lynch between March 22, 1984, and August 4, 2021.

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