National investment loss lawyers KlaymanToskes is investigating broker Thomas Murphy of Merrill Lynch (CRD #5654189).
According to FINRA BrokerCheck, Thomas Murphy, a former broker at Merrill Lynch, Pierce, Fenner & Smith Inc., is facing a pending customer complaint seeking $150,000 in damages for allegedly failing to act in the client’s best interest and making an unsuitable investment recommendation in DPP & LP Interests.
Murphy was previously suspended by the Financial Industry Regulatory Authority (“FINRA”) for four months in connection with findings that he executed subscription agreements as an authorized signatory for his member firm, without its authorization, to assist clients of the firm’s self-directed brokerage business invest in third-party private real estate funds.
Investors that suffered losses with broker Thomas Murphy are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Thomas Murphy, who used to work as a broker for Merrill Lynch, Pierce, Fenner & Smith Inc., is involved in a customer complaint which alleges that he did not act in the client’s best interest, by recommending an unsuitable investment. The client is seeking $150,000 in damages for the investments made while Murphy was at Merrill Lynch. Murphy was previously involved in a regulatory complaint with the Financial Industry Regulatory Authority (FINRA) in February 2020. Murphy was fined $5,000 and suspended for four months.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Thomas Murphy. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Thomas Murphy, or have concerns regarding your investment portfolio at Merrill Lynch, Pierce, Fenner & Smith Incorporated, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.