Michael Crosett & Kevin Roberson: Georgia Probes Merrill Advisors

Mount Pleasant financial advisor Michael Crosett (CRD# 2250412) and Hilton Head Island financial advisor Kevin Roberson (CRD# 2298900) are under investigation by securities regulators in the state of Georgia, according to recent disclosures. Financial Industry Regulatory Authority records show that each is a broker and an investment advisor with Merrill Lynch.

Mr. Crosett’s and Mr. Roberson’s BrokerCheck reports disclose the investigation into their conduct. Filed by the Commissioner of Securities for the State of Georgia in September 2023, the investigation concerns allegations that they violated state law. No additional information regarding the allegations against them is provided in the disclosure, which notes that the investigation is still pending.

Another disclosure on the representatives’ BrokerCheck reports concerns a July 2023 civil complaint filed against them in the Superior Court of Columbia County, Georgia. The complaint alleges breach of fiduciary duty and negligence in connection with their conduct as representatives of Merrill Lynch, and it is still pending.

Mr. Roberson’s BrokerCheck report also discloses an investor complaint against him. Filed in 2003, it alleged that as a representative of Merrill Lynch, he failed to supervise a representative’s handling of an account. It reached a settlement of $30,000.

According to the Financial Industry Regulatory Authority, Michael Crosett holds 29 years of securities industry experience. Based in Mount Pleasant, South Carolina, he has been a broker and an investment advisor with Merrill Lynch since 1994 and 2007, respectively. He is also registered with the firm’s offices in Saint Simons Island, Statesboro, and Savannah, Georgia. His credentials include the passage of seven securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Representative Examination, or Series 7; 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 56 state licenses.

Based in Hilton Head Island, South Carolina, Kevin Roberson has 30 years of securities industry experience. He has been a broker and an investment advisor with Merrill Lynch since 1993 and 1998, respectively. His credentials include the passage of eight securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; 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 51 state licenses. (Information current as of September 17, 2023.)

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