Thomas Alan Braley of Saginaw Michigan a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that between 2013 and 2016, the customer was provided bad investment recommendations concerning common and preferred stocks while Braley was associated with Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00964 (Mar. 19, 2018).
FINRA Public Disclosure confirms that Braley has been identified in four more customer initiated investment related disputes which pertain to allegations of his misconduct during the time that he was employed by Merrill Lynch. Particularly, a customer filed an investment related complaint involving Braley’s activities in which the customer sought unspecified damages founded on accusations that trades were executed in the customer’s account on an excessive basis by Braley.
Then, a customer filed an investment related complaint concerning Braley’s conduct where the customer requested $150,000.00 in damages based upon allegations that instructions had been disregarded concerning mutual fund investments and margin had been utilized without the customer’s permission. Braley is also the subject of a customer initiated investment related civil action brought in the Circuit Court of the State of Michigan in which customers requested $25,000.00 in damages supported by accusations that Braley effected unauthorized stock trades in their account. Civil Action No. 14-023807-CZ-1.
Moreover, a customer initiated investment related arbitration claim concerning Braley’s activities was settled for $75,000.00 in damages founded on allegations that between January of 2013 and February of 2016, false or misleading statements had been made concerning structured products and equities sold to the customer; trades were executed in the customer’s account in excessive amounts; and investment recommendations made to the customer were not suitable. FINRA Arbitration No. 16-01290 (Dec. 2, 2016).
Braley’s registration with Merrill Lynch has been terminated as of December 21, 2015. Since December 18, 2015, Braley has been registered with Wells Fargo Clearing Services LLC.
