Ari Olive: Merrill Advisor Receives Misappropriation Complaint

Los Angeles financial advisor Ari Olive (CRD# 6418405) allegedly misappropriated client funds, according to a recent investor complaint. Financial Industry Regulatory Authority records show that she is currently registered as a broker and an investment advisor with Merrill Lynch, having previously been registered with BBVA Securities.

Mr. Olive’s BrokerCheck report discloses one investor complaint. Filed in March 2024, it alleges that as a representative of Merrill Lynch, she misappropriated funds from the customer’s account. The pending complaint alleges unspecified damages.

For reference, an advisor’s alleged misappropriation of client funds may violate FINRA Rule 2150, under which no FINRA-associated person “shall make improper use of a customer’s securities or funds.” It may also violate FINRA Rule 2010, which stipulates that brokers shall “observe high standards of commercial honor and just and equitable principles of trade” as they conduct their business. Brokers who violate these rules may be found liable for damages in the event of losses.

Merrill Lynch’s website includes a profile of Ms. Olive in which she describes her approach to working with her clients. “I’ll start by taking the time to get to know you and understand what’s important to you so I can help you develop strategies to pursue your short-, mid-, and long-term goals,” she writes. “I’ll serve as your resource for everything from general investing to retirement planning to saving for the unexpected… Together we’ll discuss your goals, concerns and questions, and I can provide ongoing advice and guidance as your needs change.”

According to the Financial Industry Regulatory Authority, Ari Olive holds six years of securities industry experience. Based in Los Angeles, California, she has been a broker and an investment advisor with Merrill Lynch since 2023. Her past registrations include BBVA Securities (Miami, Florida; 2018-2021) and Northwestern Mutual Investment Services (Miami, Florida; 2016-2018). Her credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. She is licensed in Arizona, California, Colorado, Florida, Nevada, New Jersey, Oregon, Texas, and Washington. (Information current as of April 21, 2024.)

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