Smoothie-Throwing Advisor Suspended By CFP Board

Posted on February 15th, 2022 at 1:21 PM
Smoothie-Throwing Advisor Suspended By CFP Board

From the Desk of Jim Eccleston at Eccleston Law:

A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie shop in Connecticut.

The former Merrill advisor, James Iannazzo, was arrested after the incident on January 22 at a smoothie shop in Fairfield, Connecticut. Iannazzo allegedly returned to the store after purchasing a smoothie and began yelling at employees, according to Fairfield police. Iannazzo eventually threw his smoothie at one of the employees. Iannazzo additionally cursed at employees and called one a “(expletive) immigrant loser”, according to a video recording of the incident. Iannazzo was angry because the smoothie he bought allegedly contained peanut butter and Iannazzo’s son purportedly is allergic to peanut butter, according to Fairfield police. 

After the video began to spread on social media, Merrill Lynch announced that it immediately had investigated and subsequently terminated Iannazzo’s employment. Additionally, the CFP Board Counsel moved to file a Motion for Interim Suspension against Iannazzo, which was approved by a hearing panel. In essence, Iannazzo’s will serve his suspension until the Board finalizes its investigation and conducts other disciplinary proceedings. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters, including CFP Board and CFA Institute matters. 

 
 
 
 

Tags: eccleston, eccleston law, merrill lynch

Return to Archive

TESTIMONIALS

Previous
Next

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

December 9, 2022
FINRA Reminds Firm To Monitor For “Red Flags” In Options Trading Applications

The Financial Industry Regulatory Authority (FINRA) has released an announcement reminding firms that recommend options trading for clients to be constantly monitoring for “red flags” on customer applications.

December 8, 2022
FINRA Orders Morgan Stanley to Pay $697,897 Over Failure to Supervise Nine Advisors

The Financial Industry Regulatory Authority (FINRA) has ordered Morgan Stanley to pay $697,897, including a $200,000 fine and $497,897 in restitution, for failing to adhere to its own procedures for supervising its advisors’ high-risk recommendations. 

December 7, 2022
FINRA Bars Former Northwestern Mutual Advisor For Allegedly Cheating on CFP Exam

The Financial Industry Regulatory Authority (FINRA) has barred a former Northwestern Mutual advisor after he failed to cooperate with the regulator’s probe into the Certified Financial Planner Board of Standards’ (CFP Board’s) decision to bar the advisor for alleged “exam misconduct.”