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Jon Merritt Allegedly Failed to Fully Inform Client

Jon Merritt (CRD #: 2796485), a broker registered with Wells Fargo Clearing Services, allegedly failed to fully inform an investor, according to his BrokerCheck record, accessed on May 5, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On February 8, 2023, an investor filed a dispute alleging that Jon Merritt failed to inform him that the loan taken out against his securities had an adjustable rate. The client alleged that this misconduct occurred between April 14, 2021, and the date of filing. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 2020

The omission of information related to investments violates FINRA Rule 2020, which bans the use of manipulation, deception, and other fraudulent means of influencing the purchase and sale of securities.

Background Information

Jon Merritt has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Jon Merritt is a registered broker in 22 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

He has also worked for Morgan Stanley (CRD#:149777) and Citigroup Global Markets (CRD#:7059).

Kurta Law Can Help

If you worked with Jon Merritt 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. 

 

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