Expert Review

Eric Payne- Hidden Fees, Disclosures, Lawsuits (Latest Update 2023)

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Who is Eric Payne (CRD#: 2757783)?

Eric Payne is a Managing Director and Wealth Management at Merrill Lynch Wealth Management. Eric Payne is an in Indianapolis, IN, with 23 years of experience in the financial field. Payne is a Merrill Lynch, Pierce, Fenner & Smith Ltd. employee.

Eric Payne has previously worked with Merrill Lynch, Pierce, Fenner & Smith Inc, and Bank Of America, N.A. Payne possesses a Series 66 license, allowing them to work as both a services dealer and an investment adviser equivalent in Florida, Indiana, and Texas.

Merrill Lynch, Pierce, Fenner & Smith Llc is based in Indianapolis, Indiana. It has 3,374 offices and an aggregate of 34,906 advisors in total.

It manages $1 trillion in revenues for its 2,825,602 customer accounts, which makes it one of the largest financial advice businesses in the country in terms of assets under management.

The firm advises 5,339 nonprofit organizations on financial matters. Eric Payne graduated from Butler University with a bachelor’s degree.

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About Merrill Lynch Wealth Management:

Merrill Lynch & Company. was the previous name of a well-known Wall Street financial business. Since its takeover by Bank American Corporation (BAC) in the year 2009, it has been known simply as “Merrill” and operates as Bank of America’s wealth management business.

Merrill Lynch & Co., founded in 1914 by Charles E. Merrill, has long been recognized as one of the most recognizable firms in the American financial sector.

Merrill Lynch & Inc. is now located at 250 Vesey Avenue in the city of Manhattan, the city of New York. The firm, which is a subsidiary of Bank of America, has over $2.75 trillion in assets under management (also known as AUM) and serves over 19,000 financial consultants.

Merrill Lynch & Corp. and Bank of America

During the 2007-2008 financial crisis, the corporation sparked significant alarm. Merrill Lynch & Inc. revealed billions of dollars in losses relating to the company’s holdings of subprime loans and associated derivative instruments in November 2007.

Bank of America offered an acquisition of Merrill Lynch & Company. in September 2008 for more than $40 billion.

This takeover bid, which represented an increase of more than 70% over the company’s then-low price on the market, was accepted immediately after, and Citibank of America eventually purchased Merrill Lynch for $50 billion in all shares.

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.

5/12/2023 Update
As of now, Eric Payne 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.
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Eric Payne Disclosures: BrokerCheck, FINRA, And SEC Reports

The BrokerCheck reports of Eric Payne include his employment past events, educational background, disciplinary actions, convictions for crimes, and civil outcomes, involving adjudicator prizes, as well as reported events. As a result, no information on Eric Payne’s disclosure is provided.

Financial Advisors often take down their client disputes from FINRA’s Public database through Disclosure Expungement. Even law firms provide expungement services to FAs so that they can hide or remove their client disputes and maintain a clean record. So the lack of any disclosures on BrokerCheck doesn’t necessarily mean that the broker hasn’t had any disputes in the past.

FINRA’s BrokerCheck

individual_2757783.pdf (finra.org)

SEC Litigations & Forms

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Source: Eric Payne – SEC Site Search Search Results

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Eric Payne Lawsuits, Legal Battles, & Disputes

CourtListener, UniCourt, Law.com, Justia, Trellis Law, and Law360 save the vast majority of court cases filed in the United States of America. If Eric Payne is ever related to a situation, you may look up the details by using the links provided below.

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

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Eric Payne 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 Eric Payne using the websites down below:

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

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Frequently Asked QuestionsFind the answers to your most common questions related to Eric Payne & Merrill Lynch Wealth Management

Where is Eric Payne located?

Indianapolis

What are Eric Payne’s qualifications

Bachelor Degree

Is Eric Payne facing any lawsuits?

Yes

Has Eric Payne been charged by the SEC?

No

How do I contact Eric Payne?

linkedin.com/in/eric-payne-cfp-a0725586

Does Eric Payne have any disclosures?

No

Which Firm does Eric Payne work with?

Merrill Lynch Wealth Management

What is Eric Payne’s CRD Number?

CRD#: 2757783
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Better Alternatives To Eric Payne (By Experts):Find the top 3 alternatives to Eric Payne

These recommendations are based on the ratings of SmartAsset.com, the biggest financial advisor review platform on the internet.
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Summit Rock Advisors
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Fort Washington Investment Advisors
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Fisher
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$17.3 Billion
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Fee-only
High overall rating
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Several complaints on platforms
You can check out the top 10 financial advisors in the U.S. to learn more.

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