Barry Marks: Did Merrill Advisor Misappropriate Funds?

Chicago financial advisor Barry Marks (CRD# 704929) allegedly misappropriated customer funds, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Marks’ BrokerCheck report discloses several investor complaints. The most recent, filed in July 2024, alleges that as a representative of Merrill Lynch, he misappropriated funds between March and July 2024. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2001, alleged that as a Merrill Lynch representative, he “knowingly utilized and recommended inaccurate, deceptive or materially false research.” In 2004 the complaint reached a settlement of $35,000.

A third investor complaint, filed in 2002, alleged that as a Merrill Lynch representative, he recommended unsuitable investments and failed to diversify the customer’s assets. The complaint reached a settlement of $3,500.

Merrill Lynch’s website includes a profile of Mr. Marks that describes his approach to working with his clients. “Based on what matters most to you, I can help create a strategy as flexible as today’s changing market conditions, and I can provide access to the investment insights of Merrill and the banking convenience and lending solutions of Bank of America,” it states. “I will work to help you pursue your goals through personalized wealth management strategies. I follow the deep-seated Merrill tradition of participating in the communities we serve. This drives my interest in spending time volunteering with organizations in our community.”

According to the Financial Industry Regulatory Authority, Barry Marks holds 44 years of securities industry experience. Based in Chicago, Illinois, he has been registered as a broker and an investment advisor with Merrill Lynch since 1982 and 1995, respectively. He was previously registered with The Chicago Corporation from 1980 until 1982. His credentials include the passage of four securities industry examinations: 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. He holds 27 state licenses. (Information current as of August 25, 2024.)

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.