Virginia Beach, Virginia – December 10, 2025 – Eva Fernandez (CRD# 6289901), a financial advisor with Merrill Lynch, Pierce, Fenner & Smith Incorporated, faces a customer complaint alleging unauthorized trading in managed accounts. According to her FINRA BrokerCheck record, a customer filed a written complaint on October 1, 2025, alleging unauthorized trading activity occurring between November 7, 2024, and April 24, 2025. The complaint was denied by Merrill Lynch on October 22, 2025. While the complaint was denied, the allegations raise important questions for investors working with this advisor about account management practices and proper authorization procedures.
BrokerCheck Snapshot
Name: Eva Fernandez
CRD #: 6289901
Current Status: Currently registered
Current Firm: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Location: Virginia Beach, Virginia
Years in Industry: 11
Number of Disclosures: 1
Customer Complaint Against Eva Fernandez
Denied Customer Complaint (October 2025)
A customer filed a written complaint on October 1, 2025, alleging that Eva Fernandez engaged in unauthorized trading in their managed account during the period from November 7, 2024, through April 24, 2025.
Complaint Details:
- Date Filed: October 1, 2025
- Employing Firm: Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Allegations: Unauthorized trading in managed/wrap accounts
- Products Involved: Managed/Wrap Accounts (In House Money Manager)
- Alleged Damages: Estimated at $5,000 or more (exact amount undetermined)
- Complaint Type: Written complaint
- Status: Denied
- Status Date: October 22, 2025
The complaint alleges that Fernandez executed trades in the customer’s account without proper authorization over a period of approximately five months. Managed accounts, also known as wrap accounts, typically provide investment advisors with discretionary authority to make investment decisions on behalf of clients. However, this authority must be properly documented and granted by the client, and all trading activity must remain consistent with the client’s investment objectives, risk tolerance, and account agreement.
Merrill Lynch denied the complaint on October 22, 2025, indicating the firm concluded that the allegations lacked merit or that proper authorization procedures were followed. However, the denial of a complaint does not necessarily mean wrongdoing did not occur, and investors who believe they have experienced unauthorized trading or other account misconduct should review their account documentation carefully.
Understanding Unauthorized Trading
Unauthorized trading occurs when a broker or financial advisor executes transactions in a client’s account without obtaining proper authorization. This can include making trades that exceed the scope of any discretionary authority granted by the client, executing trades in non-discretionary accounts without prior approval, or making investment decisions that violate the terms of the client’s account agreement.
In managed or wrap accounts, investment advisors typically have discretionary authority to make investment decisions without obtaining approval for each individual trade. However, this authority must be clearly documented in the account agreement, and all investment decisions must align with the client’s stated investment objectives, risk tolerance, and investment guidelines.
Warning signs of potential unauthorized trading include trades that appear inconsistent with the client’s investment strategy, unexpected changes in account holdings, transactions the client did not authorize or discuss with their advisor, or trading activity that occurs without the client’s knowledge.
Employment History
Eva Fernandez has worked in the securities industry since 2014. Her employment history includes:
Current Employment:
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (May 2019 – Present)
- Position: FSA – Merrill (Financial Solutions Advisor)
- Location: Virginia Beach, Virginia
- Registration Date: May 28, 2019
Previous Employment:
- First Command Financial Planning, Inc. (January 2019 – April 2019)
- Position: Advisor Trainee
- Location: Norfolk, Virginia
- Duration: 3 months
- Wells Fargo Advisors, LLC (April 2014 – July 2014)
- Location: Virginia Beach, Virginia
- Duration: 3 months
Fernandez has been with Merrill Lynch for over six years and is currently registered in 53 U.S. states and territories. She passed the Series 7 (General Securities Representative), Series 6 (Investment Company Products), SIE (Securities Industry Essentials), and Series 66 (Uniform Combined State Law) examinations.
Pattern of Complaints / Risk Factors
Eva Fernandez’s BrokerCheck record shows one customer complaint on file. The complaint alleges unauthorized trading activity occurring over a five-month period in a managed account. While Merrill Lynch denied the complaint, allegations of unauthorized trading are serious concerns that warrant careful review by any investor working with this advisor. Investors should ensure they understand the scope of any discretionary authority granted to their financial advisor, review all account statements regularly for unexpected trading activity, and maintain clear documentation of all investment decisions and authorizations. Any trades that appear inconsistent with agreed-upon investment strategies or that occur without the client’s knowledge should be investigated immediately.
Can Investors Recover Losses?
Investors who experienced unauthorized trading, unsuitable investments, excessive trading, or other misconduct may be entitled to recover their losses through FINRA arbitration. FINRA arbitration is a dispute resolution process designed specifically for securities-related claims and provides an alternative to traditional court litigation.
Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
If you experienced losses, unauthorized trades, unsuitable investments, or account mismanagement while working with Eva Fernandez at Merrill Lynch or any other firm, contact our office at 800-950-6553 or info@patillaw.com to discuss your options.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident, making it important to act promptly if you suspect broker misconduct.
Related Brokers and Firms
Investors with accounts at Merrill Lynch advisors may benefit from reviewing their account history for similar issues. Other advisors at the firm may have faced customer complaints and regulatory disclosures.
For investors who experienced losses involving specific misconduct types, the following resources may be helpful:
Frequently Asked Questions
Q1: What are the complaints against Eva Fernandez?
Eva Fernandez faces one customer complaint filed in October 2025 alleging unauthorized trading in a managed account between November 2024 and April 2025. The complaint, which alleged damages of $5,000 or more, was denied by Merrill Lynch on October 22, 2025. While denied, the allegations raise concerns about account management practices and proper authorization procedures.
Q2: Can investors recover losses involving Merrill Lynch?
Yes. Investors who suffered losses due to broker misconduct at Merrill Lynch may be entitled to recover their losses through FINRA arbitration. The arbitration process allows investors to pursue claims against both the broker and the firm for unauthorized transactions, unsuitable recommendations, breach of fiduciary duty, and other securities violations.
Q3: What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum specifically designed for securities-related claims. It provides a faster and less expensive alternative to traditional court litigation, with most cases resolved within 12-16 months. An arbitration panel reviews the evidence and makes a binding decision on the claim.
Q4: What is unauthorized trading?
Unauthorized trading occurs when a broker executes transactions in a client’s account without proper authorization. This can include trades made without the client’s knowledge or consent, transactions that exceed the scope of any discretionary authority granted, or investment decisions that violate the terms of the account agreement.
Q5: How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website and search by the broker’s name or CRD number. The report will show employment history, qualifications, and any customer complaints, regulatory actions, or terminations. BrokerCheck is a free public resource maintained by FINRA.
Q6: What should I do if I suspect broker misconduct?
First, gather all account statements, correspondence, account agreements, and documentation related to your investments. Next, consider filing a complaint with FINRA and your state securities regulator. Finally, consult with a securities attorney experienced in FINRA arbitration to evaluate whether you have a valid claim for recovery.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law for a Free Consultation
If you experienced investment losses while working with Eva Fernandez or another broker at Merrill Lynch, Wells Fargo Advisors, First Command, or any other firm, contact Patil Law, P.C. today. Our experienced securities attorneys can review your case and explain your legal options at no cost and with no obligation.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
Disclaimer: The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are contested or unproven and may be resolved in the broker’s favor. The complaint discussed was denied by the firm. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
