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Eric Marvin: $100K Complaint Against M&M Wealth Advisor
A recent investor complaint against Fort Meyers financial advisor Eric Marvin (CRD# 4856310) alleges that his investment advice resulted in six-figure losses. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the M&M Wealth Management Advisor is not currently registered as a broker.
Mr. Marvin’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of M&M Wealth Management, he exposed the customer’s accounts to “too much risk.” The pending complaint alleges damages of $100,000.
FINRA rules establish certain standards that financial advisors must follow. Perhaps one of the most important standards is the suitability rule, as outlined in FINRA Rule 2111, which states that stockbrokers must “have a reasonable basis to believe” the investments and/or strategies they recommend to their clients are appropriate for the client’s background and needs—including their risk tolerance. The rule stipulates that they must evaluate an investment’s suitability based on “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” A broker who recommends investments that exceed the customer’s risk tolerance may be liable in the event of losses.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Eric Marvin holds 17 years of securities industry experience. Based in Fort Myers, Florida, he has been an investment advisor with M&M Wealth Management since 2014. His past registrations include JP Turner & Company (Fort Myers, Florida; 2011-2014), Merrill Lynch (Fort Myers, Florida; 2006-2011), and MetLife Securities (Broadview Heights, Ohio; 2005-2006). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; and the Uniform Combined State Law Examination, or Series 66. He is licensed as an investment advisor in Arizona, Florida, Ohio, Texas, and Wisconsin. He is not currently registered as a broker. (Information current as of October 16, 2022.)
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.