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John Forster: Merrill Lynch Advisor Receives $272K Annuity Complaint
A recent investor complaint against Washington, DC financial advisor John Forster (CRD# 1303832) alleges that he failed to act in the investor’s best interest, leading to damages of more than $200,000. Financial Industry Regulatory Authority records indicate that he is currently a broker and an investment advisor with Merrill Lynch.
Mr. Forster’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in April 2023, alleges that as a representative of Merrill Lynch, he failed to act in the investor’s best interest in connection with a variable annuity product. The pending complaint alleges damages of $272,546.
An earlier investor complaint, filed in 209, alleged that as a representative of Citigroup Global Markets, he mismanaged the customer’s account “through the improper implementation of a margin balance” and maintained an unsuitable asset allocation in the customer’s account. In 2011 the complaint reached a settlement of $750,000.
According to the Financial Industry Regulatory Authority, John Forster holds 38 years of securities industry experience. Based in Washington, DC, he has been a broker and an investment advisor with Merrill Lynch since 2012. His past registrations include Morgan Stanley (Washington, DC; 2009-2012), Citigroup Global Markets (Washington, DC; 1993-2009), Lehman Brothers (New York, New York; 1988-1993), and EF Hutton & Company (1984-1988). His credentials include the passage of five securities industry qualifying exams: the National Commodity Futures Examination, or Series 3; 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 currently holds 37 state licenses. (Information current as of May 15, 2023.)
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.