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Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business

Posted on January 16th, 2025 at 11:43 AM
Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business

From the desk of Jim Eccleston at Eccleston Law

Charles Thomas “Todd” Mercer Jr., a former top Merrill Lynch advisor, successfully cleared his public record of allegations that hindered his ability to attract clients after transitioning to an independent practice. A FINRA arbitrator allowed Mercer to expunge claims that he failed to disclose potential involvement in an outside business activity tied to a CBD manufacturing company.

According to AdvisorHub, Mercer joined Sanctuary Wealth in December 2021 while under internal review at Merrill Lynch. Arbitrator F. Bradford Johnson concluded the allegations were false and permitted Mercer to remove a “termination after allegations” disclosure and a related $750,000 customer complaint from his BrokerCheck record. The complaint had been withdrawn, as reported by AdvisorHub.

Mercer had alleged that Merrill Lynch’s investigation and subsequent actions amounted to a “campaign of defamation and retaliation,” costing him clients, delaying his state licenses, and damaging his reputation.

After his departure, Mercer faced challenges in rebuilding his business. In September, Mercer and Merrill reached a separate, undisclosed settlement over monetary claims, according to AdvisorHub.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

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