Juan Benavides: Merrill Lynch Advisor Faced Investor Complaints

Recent, denied investor complaints against Miami, Florida financial advisor Juan Benavides (CRD# 4288007) alleged that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch, Pierce, Fenner & Smith.

Mr. Benavides’s BrokerCheck report discloses two recent investor complaints. The most recent, filed in July 2026, alleged that as a representative of Merrill Lynch, he failed to execute a strategy in the customer’s account. The complaint alleged unspecified damages and was denied by the firm.

An earlier investor complaint, filed in May 2026, alleged that as a Merrill Lynch representative, he made misrepresentations regarding the return on the customer’s account. The complaint alleged unspecified damages and was also denied by the firm.

Investors should be aware that securities industry rules and standards prohibit advisors like Mr. Benavides from misrepresenting material facts concerning the investments they recommend. FINRA Rule 2020 specifically stipulates that no broker shall “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.” A material fact is a piece of information that poses a significant consideration to investors considering the investment: its risk level, for instance, or the investment’s time horizon. Advisors who make misrepresentations or omissions may be held liable in the event of losses.

FINRA Rule 2010 requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Many types of unethical conduct, including the failure to follow a customer’s instructions, may be found to constitute violations of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” Brokers who fail to uphold FINRA Rule 2010 may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Juan Benavides holds 25 years of securities industry experience. Based in Miami, Florida, he has been registered as a broker and an investment advisor with Merrill Lynch since 2000 and 2004, respectively. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. He holds 25 state licenses. (Information current as of August 13, 2026.)

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