Haselkorn & Thibaut has opened an investigation into broker Lawrence Aloysius Whipple III (CRD #2701809), formerly of Merrill Lynch, Pierce, Fenner & Smith Incorporated in Wayzata, MN. If you’ve worked with Lawrence (also known as Trey Whipple) and have questions about your investments or your account history, you are not alone. Investor concerns are mounting after recent public disclosures came to light.
Who is Lawrence Aloysius Whipple III?
Lawrence Aloysius Whipple III, also known as Trey Whipple, is a former FINRA-registered broker who until late 2025, was employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated. His career in the financial industry spans nearly three decades and involves several large brokerage firms. Below is a summary of his professional background:
| Firm | Location | Dates |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | Wayzata, MN | 09/2015–10/2025 |
| Morgan Stanley | Short Hills, NJ | 05/2012–09/2015 |
| Morgan Stanley & Co. LLC | New York, NY | 05/2010–04/2012 |
| FBR Capital Markets & Co. | New York, NY | 10/2008–05/2010 |
| Morgan Stanley & Co. Inc. | New York, NY | 07/1996–08/2008 |
Licenses and Qualifications:
Whipple has passed the Series 7, SIE, Series 63, Series 66, and principal/supervisory exams (Series 9/10/24). He is not currently registered with a FINRA-member firm.
Recent Concerns and Disclosure Events
A notable customer dispute was reported against Mr. Whipple related to his time at Merrill Lynch, raising red flags for investors and prompting proactive investigation by Haselkorn & Thibaut. Here are the key specifics:
- Customer Dispute: Filed by a client of Merrill Lynch, alleging excessive trading (churning) in listed equities between December 2022 and November 2023.
- Settlement: The dispute was settled in August 2025 for $500,000.
- Termination: Merrill Lynch discharged Mr. Whipple in September 2025, citing “conduct including unauthorized trading in a client account”.
What Does This Mean for Investors?
Excessive trading or churning refers to a broker executing trades in a client account primarily to generate commissions, not for the client’s best interests. This practice is a violation of securities regulations and can result in significant financial harm over time.
Unauthorized trading occurs when trades are executed without the required written permissions. FINRA Rule 3260 requires brokers to have specific documented authorization to trade on a discretionary basis. Violating this standard may constitute grounds for client recovery through arbitration.
Summary of Complaints and Regulatory History
As of the latest publicly available records (mid-2024), Mr. Whipple’s disclosure record only included this most recent complaint:
- 2025 (Merrill Lynch): Settlement for $500,000 due to a client’s claim of excessive and unauthorized trading from 12/2022 to 11/2023.
No prior customer-initiated complaints, regulatory actions, arbitrations, or SEC orders were listed before this event. However, it’s important to consistently monitor for updates as regulatory filings and customer complaints can be amended or released after-the-fact.
How to Verify or Get More Information
Investors should take a proactive approach to reviewing their account statements and investment history. To independently verify disclosures, you can use the following resources:
- FINRA BrokerCheck: Enter “Lawrence Aloysius Whipple” or CRD 2701809 to view the latest filings, customer disputes, and regulatory actions at a glance.
- SEC EDGAR and SEC Enforcement: For SEC filings or enforcement actions, search for the individual’s last name or CRD number for any potential mentions.
- PACER (Federal Court Records): View federal litigation records, if any, by searching for the advisor’s name.
- State Securities Regulators: State-regulated brokers may also face state-level proceedings not visible in national databases.
Understanding the Risks: Red Flags for Investors
If you worked with Lawrence A. Whipple III and noticed any of the following red flags, it is crucial to act quickly and consult a professional:
- Unexpected or high volume of trades in your account
- Lack of written authorization for trades the broker executed for you
- Significant and unexplained losses
- Fees or commissions that appear out of line with your expectations
- Poor or evasive communication regarding your account
Even if your portfolio performed well, unauthorized or excessive trading is a violation of the standard of care you are owed as an investor.
What Should You Do Next?
- Gather your recent account statements and written communications with your broker
- Note any transactions you did not authorize or any activity you do not understand
- Contact a securities attorney for a free case review
Why Haselkorn & Thibaut?
Haselkorn & Thibaut is a national securities fraud law firm with over 50 years of experience, a 98% success rate, and millions recovered for clients. They handle all cases on a contingency basis—no recovery, no fee. Their team of investment fraud attorneys is currently investigating the activities of Lawrence Aloysius Whipple III, formerly of Merrill Lynch, for allegations of unauthorized trading and churning.
Contact Haselkorn & Thibaut Now
If you have concerns about accounts formerly managed by Lawrence Whipple III in Wayzata, MN or at Merrill Lynch, get a free, confidential case review today.
Call 1-888-994-8066 and find out if you are eligible to recover investment losses.
Don’t wait. The consultation is free, there is no obligation, and you can learn how to protect your rights as an investor.
