Roberto Alejandro Fernandez of Miami Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $160,000.00 in damages founded on allegations that the customer received unsuitable investment advice and had been sold government debt investments that were misrepresented. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03965 (Mar. 5, 2020).
FINRA Public Disclosure shows that Fernandez has been identified in four additional customer initiated investment related disputes involving accusations of his unsuitable actions during the time that he was registered with Merrill Lynch. One customer filed an investment related arbitration claim involving Fernandez’s conduct where the customer requested $500,000.00 in damages supported by allegations that options, collateralized mortgage obligations and inverse exchange traded funds were misrepresented and that the customer received unsuitable investment advice from Fernandez.
On December 9, 2016, a customer initiated investment related arbitration claim involving Fernandez’s conduct was resolved for $16,550.00 in damages based upon accusations of omissions and misrepresentations relating to municipal debt investments sold by Fernandez at Merrill Lynch. FINRA Arbitration No. 15-03265. The claim alleges that the investment recommendations made by Fernandez failed to be suitable for the customer and that transactions were initiated without the customer’s authorization.
Another customer initiated investment related arbitration claim involving Fernandez’s conduct was settled for $380,000.00 in damages founded on allegations that municipal debt information had been concealed from the customer between November of 2010 and June of 2017. FINRA Arbitration No. 17-01720 (Nov. 28, 2018). The claim indicates that misrepresentations had been made by the stockbroker as it pertained to municipal bonds and that trades were effected in the customer’s account without authorization. The claim also alleges that transactions were not appropriate for the customer.
Fernandez is also the subject of a customer initiated investment related arbitration claim in which the customer sought $1,260,000.00 in damages supported by accusations that misrepresentations had been made to the customer and that Fernandez’s investment recommendations were in no way suitable for the customer during the time that the stockbroker was associated with Merrill Lynch. FINRA Arbitration No. 19-02201 (Aug. 6, 2019).
Fernandez has been registered with Merrill Lynch as a stockbroker since October 11, 2007 and as an investment adviser representative since June 22, 2009.
