Gregory Whelan: Why Did Merrill Lynch Advisor Resign?

Fort Lauderdale financial advisor Gregory Whelan (CRD# 5247677) recently resigned from Merrill Lynch in connection with allegations of selling away. Financial Industry Regulatory Authority records show that he has also received an investor complaint that reached a settlement of more than $3 million.

Mr. Whelan’s BrokerCheck report discloses his resignation from Merrill Lynch. Filed in April 2025, it states that he voluntarily resigned from the firm in connection with allegations of “Conduct including selling away, conflict of interest and use of a personal device for business purposes.”

In a “Broker Statement” included with the disclosure, he writes that he “voluntarily resigned and at the time of resignation, the Firm did not make any allegations accusing him of any violations.”

Two other disclosures on his BrokerCheck report concern investor complaints against him. The most recent, filed in 2024, alleged that as a Merrill Lynch representative, he recommended unsuitable investments, made misrepresentations of material facts, and used a personal email account “to engage in selling away.” In February 2025 the complaint reached a settlement of $2.5 million.

In a statement included with the disclosure, Mr. Whelan wrote that he “was not named as a Respondent in the Arbitration, did not participate in, make a financial contribution to, or have any involvement with the settlement, and denies any liability related to the same.”

An earlier investor complaint, filed in 2021, alleged that as a representative of Merrill Lynch, he recommended unsuitable investments and delayed following instructions. The complaint reached a settlement of $100,000.

According to the Financial Industry Regulatory Authority, Gregory Whelan holds 16 years of securities industry experience. Based in Fort Lauderdale, Florida, his registration history includes Merrill Lynch (2013-2025), Morgan Stanley (2011-2013), UBS Financial Services (2011), Tullett Prebon Financial Services (2009-2010), and ICAP Securities USA (2007-2009). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Florida, Georgia, Ohio, and Texas. (Information current as of April 2, 2025.)

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