Expert Review

David Goodwin: Exposing the Hidden Fees, Disclosures, Lawsuits (Latest Update 2023)

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Who is David Goodwin (CRD#: 2434504)

David Goodwin obtained his bachelor’s degree in political science from Colgate University. David Goodwin presently works for Merrill Lynch Wealth Management as a Managing Director, Senior Financial Advisor, and Portfolio Manager. As a Portfolio Manager, David Goodwin can assist clients in achieving their goals by managing his own personalized or defined strategies on a discretionary basis, which may include individual stocks and bonds, Merrill Lynch Wealth Management model portfolios, and third-party investment strategies.

David Goodwin is skilled in asset management, which includes strategies for growth, income, and capital preservation, as well as succession planning. For the past 16 years, David Goodwin has been named to the Forbes “Best-in-State Wealth Advisors” list and Barron’s “Top 1,200 Financial Advisors” list. He has worked in the financial services industry for thirty years.

Merrill Lynch Money Management’s Goodwin Group is dedicated to managing money for CEOs, high-net-worth families, and small institutions/foundations. We have over 75 years of combined experience, and our greatest delight has come from our client’s financial success and long-term partnerships. We begin by gaining a thorough understanding of our client’s aims and objectives. We adopt a personalized wealth management strategy guided by asset allocation models, and we meet on a regular basis to discuss and track the development of our customers.

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About FIRM: Merrill Lynch Wealth Management

What is Merrill Lynch Wealth Management?

Merrill Lynch Wealth Management is a division of Bank of America that provides financial planning and investment management services to individuals, families, and businesses. The firm has a long-standing history of serving the financial needs of clients, and it is well-known for its sophisticated investment products and services.

The History of Merrill Lynch Wealth Management

Merrill Lynch Wealth Management was founded in 1914 by Charles Merrill and Edmund Lynch. The company was initially established to provide investment banking services to middle-market companies. However, over the years, Merrill Lynch expanded its services to include retail brokerage, wealth management, and financial planning.

In 2009, Merrill Lynch was acquired by Bank of America, and the two companies merged to form one of the largest financial institutions in the world. Today, Merrill Lynch Wealth Management has over 14,000 financial advisors and manages over $2.3 trillion in client assets.

The benefits of using Merrill Lynch Wealth Management

One of the primary benefits of using Merrill Lynch Wealth Management is the firm’s extensive resources and expertise. The company has a team of experienced financial advisors who work closely with clients to develop customized investment strategies based on their needs and goals.

Merrill Lynch Wealth Management also provides clients with access to a wide range of investment products and services, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, and alternative investments. Additionally, the firm offers a variety of tools and resources to help clients monitor their investments and make informed decisions about their financial future.

How Merrill Lynch Wealth Management Works

The key features of Merrill Lynch Wealth Management

Merrill Lynch Wealth Management offers a range of features to help clients manage their investments and plan for their financial future. Some of the key features of the firm include:

Financial planning:

Merrill Lynch Wealth Management offers comprehensive financial planning services to help clients achieve their financial goals. The company’s financial advisors work with clients to develop customized financial plans based on their individual needs and goals.

Investment management:

Merrill Lynch Wealth Management offers a range of investment management services, including portfolio management, asset allocation, and investment research.

Retirement planning:

Merrill Lynch Wealth Management offers a range of retirement planning services to help clients plan for their retirement. The firm’s financial advisors can help clients develop a retirement savings plan, estimate retirement expenses, and evaluate retirement income sources.

The different types of accounts offered by Merrill Lynch Wealth Management

Merrill Lynch Wealth Management offers a range of account options to meet the unique needs of individual clients. Some of the account options offered by the firm include:

Individual Retirement Accounts (IRAs):

Merrill Lynch Wealth Management offers traditional, Roth, and SEP IRAs to help clients save for retirement.

Brokerage accounts:

Merrill Lynch Wealth Management offers a range of brokerage accounts, including individual, joint, and custodial accounts.

Trusts and estates:

Merrill Lynch Wealth Management offers trust and estate planning services to help clients protect their assets and ensure that their wishes are carried out.

How to open an account with Merrill Lynch Wealth Management

Opening an account with Merrill Lynch Wealth Management is a straightforward process. Clients can either contact a financial advisor directly or visit the Merrill Lynch Wealth Management website to get started. The firm’s financial advisors will work with clients to determine their investment goals and risk tolerance and recommend an investment strategy that is tailored to their individual needs.

The fees and costs associated with Merrill Lynch Wealth Management

Merrill Lynch Wealth Management charges clients a fee based on the percentage of assets under management. The fee varies depending on the size of the account and the services provided. Additionally, some investment products and services offered by Merrill Lynch may also have additional fees and expenses.

The Merrill Lynch Wealth Management mobile app

Merrill Lynch Wealth Management offers a mobile app that allows clients to monitor their investments and access account information from their mobile devices. The app provides real-time market data, investment news, and alerts to help clients stay informed about their investments.

The Merrill Lynch Wealth Management website

The Merrill Lynch Wealth Management website provides clients with access to a range of tools and resources to help them manage their investments and plan for their financial future. The website includes market data, investment research, and educational resources to help clients make informed investment decisions.

How to achieve financial success with Merrill Lynch Wealth Management

Achieving financial success with Merrill Lynch Wealth Management requires a proactive approach to managing your investments and planning for your financial future. Here are some tips to help you get started:

Set clear financial goals:

To achieve financial success, it’s important to set clear financial goals and develop a plan to achieve them. Work with your financial advisor to identify your short-term and long-term financial goals and develop a plan to achieve them.

Monitor your investments:

Regularly monitoring your investments is essential to ensuring that your portfolio remains aligned with your investment goals and risk tolerance. Work with your financial advisor to regularly review your portfolio and make adjustments as needed.

Diversify your portfolio:

Diversifying your portfolio is essential to managing risk and achieving long-term investment success. Work with your financial advisor to develop a diversified investment strategy that is tailored to your individual needs and goals.

Take advantage of tax-efficient strategies:

Managing taxes is an important part of achieving financial success. Work with your financial advisor to identify tax-efficient investment strategies that can help you minimize your tax liability and maximize your investment returns.

Common Misconceptions about Merrill Lynch Wealth Management

There are several common misconceptions about Merrill Lynch Wealth Management. Here are a few of the most common misconceptions:

It’s too expensive:

While Merrill Lynch Wealth Management charges a fee for its services, the firm’s fees are competitive with other wealth management firms. Additionally, the firm’s extensive resources and expertise can help clients achieve long-term investment success.

It’s only for wealthy clients:

While Merrill Lynch Wealth Management does serve high-net-worth clients, the firm also offers services to individuals with more modest investment portfolios.

It’s only for investment management:

While investment management is a key part of Merrill Lynch Wealth Management’s services, the firm also offers a range of financial planning services to help clients achieve their financial goals.

What is SEC?

The Securities and Exchange Commission (SEC) in the United States is a federal government regulatory agency that works independently. Its main responsibility is to safeguard investors, ensure the securities markets operate in a fair and orderly manner, and facilitate capital formation.

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David Goodwin Disclosures: BrokerCheck, FINRA, And SEC Reports

There are 4 disclosures filed against David Goodwin.

When an Executive Officer or Chief, or their designate, determines that:

The complaint will be sent to a lawyer.
The company has been given an opportunity to reply to the complaint, a probable breach of the law has happened or there is a risk of public harm, and a substantiated consumer transaction has occurred,
A genuine financial transaction between an individual customer or patient and a firm or licensee to procure and sell goods or services is defined as a validated consumer transaction.

27/12/2023 Update
As of now, David Goodwin has not responded, nor has he apologized for his misdeeds. He has ignored our efforts to highlight the problems faced by his victims. Furthermore, he has only focused on propagating his fake PR.

A Consumer Complaint History report shall not reveal complaint information if it is judged that:

The complaint lacks merit, the complaint involves a non-consumer matter (e.g., labor grievances, labor relations, tax issues, etc.), or disclosure is forbidden by statute or regulation.
A report on Consumer Complaint History shall not reveal information concerning a complaint if it is found that:

Disclosure could jeopardize an investigation or prosecution, or it could endanger or hurt the complainant.

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FINRA’s BrokerCheck

individual_2434504.pdf (finra.org)

SEC Litigations & Forms

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Source: David Goodwin – SEC Site Search Search Results

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David Goodwin Lawsuits, Legal Battles, & Disputes

There might be more pending lawsuits against David Goodwin that are not listed on these directories. Lawsuit files are often deleted from online directories. So if you cannot find any lawsuits against David Goodwin on these websites, you can contact the local authorities and check if they have a physical copy of any cases.

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David Goodwin Complaints, Class Action Lawsuits & Legal Battles

The following websites/directories are the best sources for finding complaints, litigations, and disputes against finance advisors. You can find all the complaints against David Goodwin using the websites down below:

You can contact the law firms mentioned above if you are facing issues with David Goodwin or any financial advisor.

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Frequently Asked Questions

Where is NAME located?

Connecticut

What are NAME’s qualifications

for finance

Is NAME facing any lawsuits?

no

Has NAME been charged by the SEC?

no

How do I contact NAME?

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

Does NAME have any disclosures?

yes 4

Which Firm does NAME work with?

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

What is NAME’s CRD Number?

CRD#: 2434504
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Better Alternatives To David Goodwin (By Experts):

These recommendations are based on the ratings of SmartAsset.com, the biggest financial advisor review platform on the internet.
You can check out the top 10 financial advisors in the U.S. to learn more.
Screenshot 2023 05 23 at 11.26.30 PM

Manages Assets Worth

  • $714,587,898,072

Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
  • Publication of periodicals
1625686851535

Manages Assets Worth

  • $173,418,270,044

Services

  • Financial planning
  • Portfolio management
  • Portfolio assessment
Screenshot 2023 05 23 at 11.45.48 PM

Manages Assets Worth

  • $46,803,858,104

Services

  • Portfolio management

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