Angel Ferrer & Mike Persinkski: Ex-Citi Advisors Face $56mm Complaint

Hilton Head, South Carolina financial advisor Angel Ferrer (CRD# 4220368) and Coral Gables, Florida financial advisor Mike Persinski (CRD# 1478332) allegedly caused $56 million in damages, according to a recent investor complaint. Financial Industry Regulatory Authority records show that each is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Ferrer’s and Mr. Persinski’s BrokerCheck reports disclose an identical investor complaint. Filed in August 2023, the complaint alleges breach of fiduciary duty, negligence, breach of contract, fraud, violation of the SEC’s Regulation Best Interest, and negligent supervision in connection with an alleged “failure to provide advice on a concentrated position and alleged recommendation to use a line of credit to further concentrate their assets.” The pending investor complaint, which concerns their conduct as representatives of Citigroup Global Markets, alleges damages of $56 million.

According to the Financial Industry Regulatory Authority, Angel Ferrer holds 20 years of securities industry experience. Based in Hilton Head, South Carolina, he has been a broker and an investment advisor with Merrill Lynch since April 2022. His past registrations include Citigroup Global Markets (Miami, Florida; 2010-2022), Wells Fargo Advisors (Miami, Florida; 2007-2009), Wachovia Securities (St. Louis, Missouri; 2003-2005), Banc of America Investment Services (Miami, Florida; 2001-2003), and Donaldson Lufkin & Jenrette Securities Corporation (Jersey City, New Jersey; 2000). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Delaware, the District of Columbia, Florida, Louisiana, Maryland, New York, North Carolina, Ohio, Texas, and Virginia.

FINRA records show that Mike Persinski holds 23 years of securities industry experience. Based in Coral Gables, Florida, he has been a broker and an investment advisor with Merrill Lynch since April 2022. His past registrations include Citigroup Global Markets (Miami, Florida; 2007-2022), Citicorop investment Services (Washington, DC; 2004-2007), Nationsbanc Capital Markets (1992-1993), Sovran Investment Corporation (1990-1992), and First Jersey Securities (1986-1987). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Delaware, the District of Columbia, Florida, Louisiana, Maryland, New York, North Carolina, Ohio, Texas, and Virginia. (Information current as of September 17, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.