Mary Murphy: $350K Complaint Against Former Schwab Advisor

A recent investor complaint against former Nashua, New Hampshire financial advisor Mary Murphy (CRD# 5256679) alleges that her advice led to damages of more than $300,000. Records provided by the Financial Industry Regulatory Authority show that she was most recently registered as a broker with Charles Schwab & Company.

Ms. Murphy’s BrokerCheck report discloses one investor complaint. Filed in December 2022, it alleges that as a representative of Charles Schwab & Company, she provided poor investment advice, resulting in losses stemming from options investments. The pending complaint alleges damages of $350,000.

For reference, FINRA Rule 2111 requires that brokers conduct reasonable diligence into an investor’s profile in order to determine whether an investment is suitable for them. Brokers who fail to recommend unsuitable investments may be held liable for damages. and/or subject to disciplinary action.

According to the Financial Industry Regulatory Authority, Mary Murphy holds 15 years of securities industry experience. Most recently based in Nashua, New Hampshire, she was registered as a broker with Charles Schwab & Company from 2011 until 2022. Her previous registrations include MML Investors Services (Bedford, New Hampshire; 2008-2011) and UBS Financial Services (Manchester, New Hampshire; 2007-2008). Her credentials include the passage of five securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She is not currently licensed with any state or firm. (Information current as of March 23, 2023.)

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