Derek Grimm: $100K Complaint Against Merrill Lynch Advisor

Winter Park, Florida financial advisor Derek Grimm (CRD# 3000890) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with RBC Capital Markets, having previously been registered with Merrill Lynch.

Mr. Grimm’s BrokerCheck report discloses one investor complaint. Filed in September 2025, it alleges that as a representative of Merrill Lynch, he misrepresented and recommended unsuitable investments, omitted material facts, over-concentrated investments, and failed to act in the customer’s best interest. The pending complaint alleges damages of $100,000.

Failure to diversify, also referred to as over-concentration or concentration, denotes a broker’s failure to invest a customer’s portfolio among a variety of investments, market segments, and/or asset classes, . “A diversified portfolio,” FINRA states in its investor resources, “tends to be harder to achieve than simply following the mantra: don’t put all your investment eggs in one basket.” To avoid the risks of over-concentration, investors are advised to diversify their portfolios across and within major asset classes, rebalance their portfolios on a regular basis, educate themselves about the underlying investments in their mutual funds or exchange-traded fund holdings, and keep track of their investments’ liquidity.

Investors should be aware that FINRA rules and other securities industry standards prohibit brokers like Mr. Grimm from giving customers incomplete or misleading information regarding investments. FINRA Rule 2020 specifically stipulates that no registered representative may “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who make misrepresentations or omissions of material facts regarding investment recommendations may lead their clients to invest in unsuitable securities, in violation of FINRA Rule 2111. Representatives who misrepresent and/or recommend unsuitable investments may be held liable for damages in the event of losses. They may also be subject to disciplinary action by FINRA, the Securities and Exchange Commission, or state securities regulators.

According to the Financial Industry Regulatory Authority, Derek Grimm holds 25 years of securities industry experience. Based in Winter Park, Florida, he has been registered as a broker and an investment advisor with RBC Capital Markets since 2022. His past registrations include Merrill Lynch, Morgan Stanley, TD Ameritrade, and Charles Schwab & Company. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He holds 25 state licenses. (Information current as of November 16, 2025.)

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