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Robert Naclerio Resigns from Merrill Lynch

Aug 19, 2022 Employment

Robert Naclerio (CRD #: 1677407), a broker registered with LPL Financial, resigned from his previous firm, according to his BrokerCheck record, accessed on August 12, 2022. Read on if you have questions about Robert Naclerio’s conduct as a broker.

Resignation from Merrill Lynch, Pierce, Fenner & Smith

On May 5, 2022, Robert Naclerio resigned from Merrill Lynch, Pierce, Fenner & Smith following allegations that he exercised time and price discretion in non-discretionary client accounts and that he used a personal mobile device for business.

FINRA Rule 3260

FINRA Rule 3260 limits how brokers can exercise their trading discretion in clients’ accounts. Discretionary accounts must receive approval from the client and the firm before discretionary trading can occur.

Background Information

Robert Naclerio 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
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Robert Naclerio is a registered broker in six states and a registered investment adviser in New York.

He has also worked for the following firms:

  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • LPL Financial (CRD#:6413)
  • Teachers Personal Investors Services (CRD#:36130)
  • TIAA-CREF Individual & Institutional Services (CRD#:20472)
  • Pruco Securities (CRD#:5685)
  • The Prudential Insurance Company of America (CRD#:680)
  • Ernst & Company (CRD#:266)

Kurta Law Can Help

If you worked with Robert Naclerio 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.