Investor Alleges Erold Merko Selected Unsuitable Investments

Erold Merko (CRD #: 5404228), a broker registered with Raymond James & Associates, is the subject of a pending dispute, according to his BrokerCheck record, accessed on January 19, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Disputes

On December 1, 2022, an investor alleged that Erold Merko placed him in unsuitable investments. The client seeks $53,000 in this pending dispute.

In a dispute filed on January 15, 2019, an investor named Erold Merko in allegations regarding the unsuitability of certain asset management programs and advice about distributions related to a fixed investment. The client alleged that this misconduct occurred from 2013-2014. They sought $400,000 in damages and received a settlement of $60,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s age, risk tolerance, and other characteristics.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of many other rules may also qualify as violations of FINRA Rule 2010.

Background Information

Erold Merko has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Erold Merko is a registered broker in seven states and a registered investment adviser in Michigan.

He has also worked for the following firms:

• Advice and Planning Services (CRD#:20472)
• TIAA-CREF Individual & Institutional Services (CRD#:20472)
• Freedom One Investment Advisors (CRD#:107627)
• Sentinel Securities (CRD#:110942)
• Wachovia Securities (CRD#:19616)
• A. G. Edwards & Sons (CRD#:4)

Kurta Law Can Help

If you worked with Erold Merko and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.