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Jeffrey Fitz Disclosure Regarding Outside Business Activities

Jeffrey Fitz (CRD #: 2211629), a broker and an investment advisor registered with Merrill Lynch, Pierce, Fenner & Smith Inc, has multiple disclosures in his BrokerCheck record, accessed on August 25, 2020. Investors should take note — one of these disclosures involves allegations of outside business activities.

On June 5, 2020, an investor alleged that Jeffrey Fitz misrepresented certain securities, and further alleged that Mr. Fitz engaged in outside business activities from 2017 and 2020. The disclosure states that these outside business activities involved a non-broker dealer affiliate product. The complaint did not specify damages and the dispute was denied by the firm. You can read the disclosure event details here.

Jeffrey Fitz’s Detailed Broker Report lists one outside business activity. Mr. Fitz serves as the president and a board member of the non-profit Fitz Family Foundation.

Engaging in outside business activities without providing written notice is also called “selling away.” This practice violates FINRA Rule 3280. If you want to know more, check out our page, “Understanding Selling Away or Private Security Transactions.”

On May 9, 2018, an investor alleged that Mr. Fitz made unsuitable investment recommendations. The dispute was denied.

Jeffrey Fitz has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 3 National Commodity Futures Examination, and the Series 7 General Securities Representative Examination. He is registered as a broker in Arizona, California, Connecticut, Delaware, Florida, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Texas. He is a registered investment advisor in New Jersey and Texas.

During his 27 years of experience, Jeffrey Fitz has worked at the following firms:

  • Wells Fargo Advisors, LLC (CRD #: 19616)
  • CitiGroup Global Markets Inc. (CRD #: 7059)
  • Prudential Securities Inc. (CRD #: 7471)
  • Westfield Financial Corporation (CRD #: 8143)
  • Hibbard Brown & Co. Inc. (CRD #: 18246)

If Jeffrey Fitz was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with a securities attorney.