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Read MorePatrick Crowley: Merrill Lynch Fires Chicago Advisor
Prospect Heights, Illinois financial advisor Patrick Crowley (CRD# 4977791) was recently fired by Merrill Lynch in connection with alleged conduct violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is registered as an investment advisor with Crowley Capital Management.
Mr. Crowley’s BrokerCheck report discloses his firing from Merrill Lynch. Filed in October 2024, it states that the firm terminated his registration in connection with allegations that he failed to “adhere to Know Your Customer standards for one customer” and that he used “a personal device for business communications.”
His BrokerCheck report also discloses an investor complaint. Filed in 2022, it alleged that as a Merrill Lynch representative, he failed to follow the customer’s instructions. The complaint reached a settlement of $61,736.40.
FINRA Rule 2010 requires brokers like Mr. Crowley to “observe high standards of commercial honor and just and equitable principles of trade.” Various forms of unethical conduct, such as the failure to follow a customer’s instructions, may be found violate of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” Representatives who fail to uphold FINRA Rule 2010 may be held liable in the event that the customer suffers losses.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Patrick Crowley holds 17 years of securities industry experience. Based in Prospect Heights, Illinois, he has been registered as an investment advisor with Crowley Capital Management since December 2024. His past registrations include Merrill Lynch, Morgan Stanley, and Citigroup Global Markets. His credentials include the passage of four securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Futures Managed Funds Examination, or Series 31. He is licensed in Illinois. (Information current as of December 23, 2024.)
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