Merrill Lynch Advisor Maria Johnson: Chevron complaint

A recent investor complaint against New Orleans financial advisor Maria Johnson (CRD# 2495165) alleges that she provided unsuitable investment advice involving Chevron stock. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor with Merrill Lynch.

Ms. Johnson’s BrokerCheck report discloses one investor complaint. Filed in September 2022, it alleges that as a representative of Merrill Lynch, she did not consider the customer’s best interests “when a loan was taken against their Chevron stock.” The pending complaint alleges unspecified damages.

For reference, the term suitability refers to an investor’s specific investment objectives and needs. FINRA Rule 2111 requires that investment and investment strategies abide by FINRA-mandated suitability requirements before a broker or adviser recommends it to an investor. Suitability requirements, to be clear, are not fiduciary requirements, which require investment advisers to place their customer’s interests over their own interests. Brokers and advisors who recommend unsuitable investments may be held liable, or even subject to disciplinary action, in the event of losses.

According to the Financial Industry Regulatory Authority, Maria Johnson holds 28 years of securities industry experience. Based in New Orleans, Louisiana, she has been a broker and an investment advisor with Merrill Lynch since 1994 and 2009, respectively. Her credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. She holds 29 state licenses. (Information current as of October 19, 2022.)

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