DID ROBERT WINTHROP OUTTRIM JR CAUSE YOU INVESTMENT LOSSES?
About Robert Outtrim Jr of Merrill Lynch, Pierce, Fenner & Smith Incorporated?
Robert Outtrim Jr (CRD #830045) has been active in the securities industry since 1976. He is currently employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated as an investment adviser and registered broker, since March 1990. His registrations span various categories, including General Securities Representative and Investment Adviser Representative. Over his extensive career, he has passed six securities-related exams, including the General Securities Representative Exam (Series 7) and the Uniform Investment Adviser Law Exam (Series 65). He is licensed in 33 U.S. states and territories and registered with six self-regulatory organizations (SROs), such as FINRA and the New York Stock Exchange.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Robert Outtrim Jr Customer Complaints and Reviews
Robert Outtrim Jr. has two disclosures on his FINRA record: one regulatory event and one customer dispute.
- Regulatory Disclosure January 31, 1989
- Details: The NASD Business Conduct Committee sanctioned Mr. Outtrim for selling 400 shares of a “hot issue” (Great Country Bank) to a restricted person in violation of NASD rules.
- Outcome: He consented to a censure and a $2,000 fine without admitting or denying guilt. Merrill Lynch paid the fine, citing prior internal action as sufficient.
- Customer Dispute February 29, 2024
- Complaint: The client alleged misrepresentation and unsuitable investment recommendations related to mutual funds spanning 1995 to 2020.
- Outcome: The firm denied the complaint in March 2024, determining that no compensatory damages or wrongdoing warranted action.
Allegations Against Robert Outtrim Jr
Key Allegations in Disclosures:
- Regulatory Violation (1989):
- Complaint: Accused of violating NASD’s Free Riding and Withholding Interpretation by selling a restricted issue.
- Outcome: Resulted in a monetary sanction and censure, highlighting the importance of compliance with regulatory guidelines.
- Customer Complaint (2024):
- Complaint: Client alleged long-term misrepresentation and unsuitable advice regarding mutual fund investments.
- Outcome: While the firm denied the claims, such allegations are crucial for potential investors to assess the broker’s professional judgment over decades.
Both disclosures suggest a need for careful scrutiny of Mr. Outtrim’s adherence to investment regulations and practices, despite his long-standing career in the securities industry.
Robert Outtrim Jr Red Flags & Your Rights As An Investor
Of course, Robert Outtrim Jr did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Robert Outtrim Jr at Merrill Lynch, Pierce, Fenner & Smith Incorporated on alert to review carefully the activity and performance of their accounts and question whether Robert Outtrim Jr has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Merrill Lynch, Pierce, Fenner & Smith Incorporated also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Merrill Lynch, Pierce, Fenner & Smith Incorporated Due To Robert Outtrim Jr
If you have questions about Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or Robert Outtrim Jr and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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