Lawrence Nagel Allegedly Sold Unsuitable Bonds, Annuities

Lawrence Nagel (CRD# 3040736[1]), a broker registered with Merrill Lynch, recommended unsuitable investments, according to recent investor disputes. MDF Law is investigating the Louisville, Kentucky financial professional for similar conduct. Call us for a free consultation today if you have concerns regarding your accounts.

To learn more about the disputes involving Mr. Nagel, continue reading this post. The information below can be found in his BrokerCheck record, a Financial Industry Regulatory Authority resource accessed on September 6, 2024. 

Pending Complaints Allege Suitability Violations

Two parties of investors filed disputes involving Mr. Nagel in 2024. Both disputes allege that he misrepresented and recommended unsuitable investments in products including corporate bonds and variable annuities. Both disputes remain pending; one seeks $50,000 in damages, while the other seeks unspecified damages.

Nagel Denies Allegations Against Him

In identical statements regarding the investor disputes involving him, Mr. Nagel defended himself against the allegations they describe. “The registered representative denies all allegations of wrongdoing,” these statements assert. “The arbitration is pending and will be vigorously defended.”

Past Dispute Reached Settlement

Another investor filed a dispute involving Mr. Nagel in 2021. This dispute alleged that he recommended an unsuitable mutual fund, and further that he omitted a material fact regarding the investment. In 2022 his member firm settled the dispute for $50,000.

Nagel Defended Against Allegations

Mr. Nagel also issued a statement defending against the 2021 investor dispute. “The Financial Advisor denies the allegations of wrongdoing,” this statement asserted. It added that the transaction in question was “well-documented” and that the firm settled it to avoid the costs of litigation. “The Financial Advisor was not asked,” it notes, “nor did he contribute monetarily towards the settlement.”

FINRA: Nagel Based in Louisville, Kentucky

Lawrence Nagel launched his career as a broker in 1998, when he registered with Sands Brothers & Company in New York City. He remained at that firm until 1999, when he joined UBS Painwebber. In 2001 he departed UBS Painewebber for Banc of America Investment Services, where he remained until joining Merrill Lynch in 2009. He has stayed at Merrill Lynch since, working out of its office in Louisville, Kentucky. With 25 years of experience as a broker, he has completed 12 industry exams, including the Series 9, the Series 10, the Series 24, and the Series 65.

MDF Law May Be Able to Help You Recover Losses

If you are a current or former client of Lawrence Nagel with concerns about your investments, contact MDF Law today. You may be able to recover losses through the FINRA arbitration process, especially if any of the following conditions apply:

• You lost more money than you could afford to lose;
• Your portfolio was concentrated in one investment, asset class, or sector;
• Your advisor did not fully disclose risks associated with your investments;
• Transactions in your account resulted in undisclosed or excessive fees or charges.

MDF Law’s experienced investor advocates take cases on a contingency basis: we only receive a fee when our clients win. Call 800-767-8040 to speak with an attorney today.