Robert Loring Involved in a Wrap Fee Dispute

Robert Loring (CRD #: 818866), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On February 27, 2024, an investor’s power of attorney named Robert Loring in a dispute alleging that a change to a wrap fee account in March 2021 was not in the client’s best interest. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of Regulation Best Interest also violate this rule. 

Background Information 

Robert Loring has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• PC – AMEX Put and Call Exam 
• Series 7 General Securities Representative Examination 

He is a registered broker in 39 states and D.C. He is also a registered investment adviser in Texas. 

During his 48 years of experience, Robert Loring has registered with Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691). 

Kurta Law Can Help 

If you have worked with Robert Loring and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.