Tim Hines: Merrill Advisor Receives Unauthorized Trading Complaint

Bloomington, Illinois financial advisor Tim Hines (CRD# 2341837) allegedly made unauthorized trades, 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. Hines’ BrokerCheck report discloses one recent investor complaint. Filed in August 2024, it alleges that he engaged in unauthorized trading in customer accounts. The pending complaint alleges unspecified damages.

Merrill Lynch’s website includes a profile of Mr. Hines that describes his experience and services. “He advises clients on wealth management, legacy and asset preservation strategies, stock option strategies, qualified retirement plans including cash balance plans and tax-efficient portfolio construction,” it explains. “He can help clients pursue their objectives by managing on a discretionary basis his own Personalized or Defined Strategies, which may incorporate individual stocks and bonds, Merrill model portfolios, and third-party investment strategies.”

For reference, unauthorized trading may violate FINRA Rule 3260, which outlines specific circumstances in which brokers like Mr. Hines are permitted to conduct securities trading without first consulting the investor. It may also violate FINRA Rule 2010, which requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who participate in unauthorized trading may be held liable for damages and/or subject to disciplinary action.

According to the Financial Industry Regulatory Authority, Tim Hines holds 31 years of securities industry experience. Based in Bloomington, Indiana, he has been registered as a broker and an investment advisor with Merrill Lynch since 1993. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; 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 holds 39 state licenses. (Information current as of September 22, 2024.)

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