Last Updated: February 2025 (Denver, CO)
National securities fraud lawyers at Patil Law P.C. are investigating current Merrill Lynch, Pierce, Fenner & Smith broker Joseph D. Gibbons (CRD #1060467) regarding allegations of unsuitable investment recommendations in variable annuity accounts. Multiple customer complaints and a significant tax lien raise serious concerns about Mr. Gibbons’ handling of client accounts.
Critical Insights About Denver Financial Advisor Joseph D. Gibbons
- Advisor Name: Joseph D. Gibbons
- CRD: 1060467
- Location: Denver, CO and Wayzata, MN
- Current Employer: Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Classification: Registered Representative & Investment Adviser Representative
- Primary Locations: 200 Josephine St, Denver, CO 80206 and 315 Lake St E, Wayzata, MN 55391
- Can Joseph Gibbons be sued in FINRA arbitration: Yes
- Customer Disputes: Two complaints
- Current Registrations: Licensed in 44 states
- Years of Experience: Since 1982
- Previous Employer: Federated Securities Corp. (1982-2005)
- Professional Qualifications: Series 6, 7, 22, 26, 63, 66 licenses
- Current Status: Active with significant disclosures
Details Of Current Investigation
Recent customer complaints allege:
- Unsuitable investment recommendations
- Variable annuity mismanagement
- Transactions occurring between 2011-2024
- Multiple customer complaints spanning different time periods
- Outstanding $78,182 IRS tax lien filed December 2022
Analysis Of Alleged Misconduct
The allegations raise serious concerns about:
- Investment suitability practices
- Risk assessment procedures
- Client profile management
- Variable annuity sales practices
- Financial responsibility (tax lien)
- Compliance with firm policies
- Pattern of customer complaints
Regulatory Framework And Investor Protection
SEC Regulation Best Interest and FINRA Rules require:
- Suitable investment recommendations
- Proper risk disclosure
- Accurate client profiling
- Documentation of investment objectives
- Client best interest practices
- Clear communication of risks
Professional Background
Mr. Gibbons’ career includes:
- Entry into securities industry in 1982
- 23-year tenure at Federated Securities
- Current position at Merrill Lynch since 2006
- Multiple state registrations
- Investment adviser registration
- Variable annuity experience
Red Flags For Investors
- Multiple customer complaints
- Unsuitable investment allegations
- Variable annuity concerns
- Outstanding IRS tax lien
- Recent misconduct allegations
- Multiple state registrations
- Dual office locations
- Pattern of disputes
Implications For Current And Former Clients
Current and former clients should:
- Review all account documentation
- Examine investment suitability
- Verify risk tolerance alignment
- Check variable annuity terms
- Monitor account performance
- Document all communications
- Evaluate portfolio changes
- Consider independent review
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have concerns about unsuitable investments or questionable recommendations in your account handled by Mr. Gibbons, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover mone
