Ian Biggs: Merrill Lynch Advisor Faces New Complaint

San Diego, California financial advisor Ian Biggs (CRD# 7002430) allegedly misrepresented an investment, 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, having previously been registered with JP Morgan Securities.

Mr. Biggs’ BrokerCheck report discloses one investor complaint. Filed in November 2024, it alleges that as a representative of Merrill Lynch, he misrepresented an investment and failed to act in the customer’s best interest. The pending complaint alleges unspecified damages.

Rule 15l-1(a)(1) of the Securities and Exchange Act of 1934, also known Regulation Best Interest, stipulates that advisors must recommend investments in their clients’ best interests. Brokers like Mr. Biggs must specifically “act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer,” the rule states. Advisors who recommend unsuitable investments may be found liable for damages.

Merrill Lynch’s website includes a profile of Mr. Biggs in which he describes his services. “I’m a licensed Merrill Financial Solutions Advisor,” it states. “I can provide you with advice when you need it, an investment strategy and a portfolio aligned to your needs to help you pursue your investing goals.”

According to the Financial Industry Regulatory Authority, Ian Biggs holds four years of securities industry experience. Based in San Diego, California, he has been registered as a broker and an investment advisor with Merrill Lynch since 2021. He was previously registered with JP Morgan Securities in Las Vegas, Nevada from 2018 until 2019. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7TO; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Florida, Nevada, New York, Oregon, Texas, and Washington. (Information current as of January 6, 2024.)

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