Salvatore Bonomo: $500K Complaint Against Merrill Lynch Advisor

Staten Island, New York financial advisor Salvatore Bonomo (CRD# 5733048) allegedly made an unsuitable investment recommendation, 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.

Mr. Bonomo’s BrokerCheck report discloses one investor complaint. Filed in September 2026, it alleges that as a representative of Merrill Lynch, he recommended an unsuitable investment and omitted material facts regarding an LMA account. The pending complaint alleges damages of $500,000.

FINRA rules establish numerous standards that stockbrokers must follow. One important piece of guidance is the suitability rule, which states that stockbrokers must “have a reasonable basis to believe” that the investments and/or investment strategies they recommend to their clients are appropriate for the client’s background and needs—that is, that the recommendations are suitable. As outlined in FINRA Rule 2111, brokers ascertain an investment’s suitability based on “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” The customer’s investment profile includes their age, net worth, risk tolerance, income, and more. Brokers who recommend unsuitable transactions may be liable to their clients in the event of losses.

According to the Financial Industry Regulatory Authority, Salvatore Bonomo holds 10 years of securities industry experience. Based in Staten Island, New York, he has been registered as a broker and an investment advisor with Merrill Lynch since 2023. His past registrations include JP Morgan Securities, Chase Investment Services, and AXA Advisors. His credentials include the passage of four 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; and the Uniform Combined State Law Examination, or Series 66. He holds 54 state licenses. (Information current as of October 27, 2026.)

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