Mike Ginestro: $2.4mm Complaint Against Merrill Advisor

A recent investor complaint against Los Angeles financial advisor Mike Ginestro (CRD# 2468911) alleges that his conduct resulted in more than $2 million in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Ginestro’s BrokerCheck report discloses one investor complaint. Filed in May 2025, it alleges that as a representative of Merrill Lynch, he recommended an unsuitable investment strategy, misrepresented and omitted material facts relating to municipal bond investments, and failed to act in the customer’s best interest. The pending complaint alleges damages of $2.4 million.

For reference, FINRA rules and other securities industry standards prohibit brokers like Mr. Ginestro from misrepresenting material information relating to the investments they recommend to their customers. FINRA Rule 2020 specifically stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” FINRA-registered representatives who make misrepresentations regarding investments or investment strategies may be held liable in the event of losses. They may also be subject to disciplinary action by securities industry regulators.

Merrill Lynch’s website includes a profile of Mr. Ginestro that describes him as a member of the Jones Zafari Group, a practice within the firm. Mr. Ginestro, it explains, is a first vice president in the practice. “His primary responsibility is managing the team’s fixed income strategies,” his profile explains, adding that he focuses on “municipal fixed income including research, strategy, and portfolio management.”

According to the Financial Industry Regulatory Authority, Mike Ginestro holds 17 years of securities industry experience. Based in Los Angeles, California, he has been registered as a broker and an investment advisor with Merrill Lynch since 2020. His past registrations include MML Investors Services, Charles Schwab & Company, UBOC Investment Services, Dean Witter Reynolds, and Oppenheimer & Company. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of August 6, 2025.)

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.