Tony Monaco: Did Merrill Advisor Misrepresent Investments?

A recent, denied investor complaint against Irvine, California financial advisor Tony Monaco (CRD# 7038609) alleged that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch, having previously been registered with JP Morgan Securities.

Mr. Monaco’s BrokerCheck report discloses one investor complaint. Filed in August 2024, it alleged that as a representative of Merrill Lynch, he misrepresented material facts in connection with miscellaneous investment products. The complaint alleged unspecified damages and was denied by the firm.

Investors should be aware that securities industry rules forbid brokers like Mr. Monaco from providing inaccurate or incomplete information regarding the investments they recommend. FINRA Rule 2020 specifically stipulates that no registered representative may “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.” Brokers who misrepresent and/or recommend unsuitable investments may be liable for damages in the event of losses.

Merrill Lynch’s website includes a profile of Mr. Monaco in which he describes his approach to working with his clients. “I can provide you with advice when you need it, an investment strategy and a portfolio aligned to your needs to help you pursue your investing goals,” he writes. “I’m looking forward to discussing your goals, as well as learning about your other interests.”

According to the Financial Industry Regulatory Authority, Tony Monaco holds four years of securities industry experience. Based in Irvine, California, he has been registered as a broker and an investment advisor with Merrill Lynch since 2022. He was previously registered with JP Morgan Securities in Hollywood, California from 2019 until 2021. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; the General Securities Representative Examination, or Series 7TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Florida, Massachusetts, Nevada, Oregon, Texas, and Washington. (Information current as of September 15, 2024.)

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.