Daniel Diaz: Merrill Lynch Fires Miami Advisor

Former Miami, Florida financial advisor Daniel Diaz (CRD# 1715827) was recently terminated from his member firm in connection with alleged rule violations, according to a report by AdvisorHub. Financial Industry Regulatory Authority records show that he was previously registered with Merrill Lynch.

As AdvisorHub reported, regulatory filings show that on February 21, 2025, Merrill Lynch fired Mr. Diaz over his alleged failure to “follow management’s decision to apply discounts to the commissions applicable to certain customer accounts.” Neither Mr. Diaz nor Merrill Lynch responded to a request for comment by the firm. The report notes, however, that according to his BrokerCheck report, he “worked primarily with international customers” during his tenure at the firm. One source informed the publication that the firing was “an unusual termination notice,” adding that while firms may reduce fees in instances when they believe a broker has over-charged a customer, “it would be a daring move for a broker” to fail to apply these reductions.

Though Mr. Diaz’s BrokerCheck report does not disclose his firing, it does disclose one past investor complaint against him. Filed in 1996, it alleged that as a Merrill Lynch representative, he recommended unsuitable investments, made unauthorized trades, and breached his fiduciary duty. It reached a settlement of $20,000 “to avoid expense and uncertainty of litigation.”

According to the Financial Industry Regulatory Authority, Daniel Diaz holds 37 years of securities industry experience. Most recently based in Miami, Florida, he was registered with Merrill Lynch from 1989 until 2025. He was previously registered with Kidder Peabody & Company from 1987 until 1989. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He is not currently registered as a broker or an investment advisor. (Information current as of April 3, 2025.)

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