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Greg Melendez: Did Laidlaw Advisor Sell Unsuitable Investments?
Recent investor complaints against Melville, New York financial advisor Greg Melendez (CRD# 4920698) allege that he engaged in excessive trading in customer accounts. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Laidlaw & Company and Laidlaw Wealth Management.
Mr. Melendez’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in June 2022, alleged that as a representative of Laidlaw & Company, he recommended unsuitable investments of stock and options products. The pending complaint alleges damages of $50,000. In a statement on the disclosure, Mr. Melendez wrote, “The matter will be defended vigorously.”
A second investor complaint, filed in 2020, alleged that he recommended unsuitable investments and engaged in excessive trading while at Laidlaw & Company. The pending complaint alleges damages of $12,721. Mr. Melendez denied the allegations in a statement on the disclosure, writing that the complaint “has no basis and the matter will be defended vigorously.”
A third investor complaint, also filed in 2020, similarly alleged that he made excessive trades and recommended unsuitable investments. The pending complaint alleges damages of $72,253. Mr. Melendez wrote again in a statement on the disclosure that the complaint “has no basis and the matter will be defended vigorously.”
A fourth investor complaint, filed in 2009, alleged that as a representative of Gunnallen Financial, Mr. Melendez made unauthorized trades, churned investments, and recommended unsuitable products. In 2011 the complaint reached a settlement of $27,611.
According to the Financial Industry Regulatory Authority, Greg Melendez holds 16 years of securities industry experience. Based in Melville, New York, he has been a broker with Laidlaw & Company since 2014 and an investment advisor with Laidlaw Wealth Management since 2020. His past registrations include IAA Financial (Melville, New York; 2009-2014), Gunnallen Financial (Boca Raton, Florida; 2005-2009), and the GMS Group (East Hanover, New Jersey; 2005-2006). His credentials include the passage of five securities industry examinations: the General Securities Principal Examination, or Series 24; 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 Combined State Law Examination, or Series 66. He holds 36 state licenses. (Information current as of August 3, 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.