Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into Los Angeles financial advisor Mike Ginestro (CRD# 2468911) following a recent investor complaint alleging damages exceeding $2 million. If you’ve worked with Mr. Ginestro at Merrill Lynch or any of his previous firms and experienced investment losses, you may have options for recovery.
Understanding the Recent Complaint Against Mike Ginestro
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The financial services industry operates on trust, and when that trust is broken, investors can suffer significant losses. A May 2025 complaint filed against Mr. Ginestro alleges unsuitable investment recommendations, misrepresentations, and omissions of material facts relating to municipal bond investments. The complaint, currently pending, seeks damages of $2.4 million.
This is a substantial claim that raises important questions for anyone who has invested through Mr. Ginestro’s guidance. Municipal bonds are typically considered conservative investments, making allegations of unsuitability and misrepresentation particularly concerning for risk-averse investors who may have relied on these investments for steady income.
Mike Ginestro’s Professional Background and Current Role
Understanding your financial advisor’s background helps you make informed decisions about your investments. Mr. Ginestro currently serves as a First Vice President at Merrill Lynch’s Jones Zafari Group in Los Angeles, where he manages the team’s fixed income strategies with a focus on municipal fixed income research, strategy, and portfolio management.
His career in the securities industry spans 17 years, with registrations at several well-known firms:
| Firm | Registration Status |
|---|---|
| Merrill Lynch | Current (Since 2020) |
| MML Investors Services | Previous |
| Charles Schwab & Company | Previous |
| UBOC Investment Services | Previous |
| Dean Witter Reynolds | Previous |
| Oppenheimer & Company | Previous |
Mr. Ginestro holds multiple securities licenses, including the Series 7, Series 65, and Series 63, demonstrating his qualification to provide both brokerage and investment advisory services.
Red Flags Investors Should Consider
When evaluating your relationship with any financial advisor, certain warning signs deserve your attention. The allegations against Mr. Ginestro highlight several potential red flags that investors should be aware of:
- Unsuitable Investment Recommendations: Every investment should align with your financial goals, risk tolerance, and time horizon. If your portfolio doesn’t match your stated objectives, this could indicate a problem.
- Misrepresentations About Municipal Bonds: While generally conservative, municipal bonds carry risks that should be fully disclosed, including credit risk, interest rate risk, and liquidity concerns.
- Failure to Act in Your Best Interest: Financial advisors have a duty to prioritize their clients’ interests above their own compensation or firm profits.
- Lack of Clear Communication: If you don’t understand your investments or feel rushed into decisions, this could signal inadequate disclosure of important information.
Your Rights as an Investor
Securities industry regulations exist to protect investors from misconduct. FINRA Rule 2020 prohibits brokers from using manipulative, deceptive, or fraudulent practices when recommending investments. When these rules are violated, investors have the right to seek compensation for their losses through FINRA arbitration.
If you’ve experienced any of the following with Mr. Ginestro or any financial advisor, you may have grounds for a claim:
- Investments that seemed too risky for your situation
- Promises or guarantees that weren’t fulfilled
- Confusion about fees or investment terms
- Significant losses in supposedly “safe” investments
- Pressure to make quick investment decisions
Why Timing Matters in Investment Loss Recovery
FINRA arbitration claims typically must be filed within six years of the investment transaction. Waiting too long could mean losing your right to recovery. Additionally, evidence and documentation become harder to obtain as time passes, making early action crucial for building a strong case.
The current complaint against Mr. Ginestro demonstrates that investors are taking action when they believe they’ve been wronged. You don’t have to face investment losses alone or wonder if your situation warrants legal attention.
How Haselkorn & Thibaut Can Help
With over 50 years of experience and a 98% success rate, Haselkorn & Thibaut has recovered millions for investors nationwide. Our team understands the complexities of securities law and the challenges investors face when dealing with investment losses. We work on a contingency basis, meaning you pay no fees unless we recover compensation for you.
Our investigation into Mike Ginestro and Merrill Lynch focuses on helping investors understand their options and potential for recovery. Every situation is unique, and what matters most is getting personalized guidance about your specific circumstances.
Take Action Today
If you’ve invested with Mike Ginestro at Merrill Lynch or any of his previous firms and suffered losses, particularly in municipal bond investments, don’t wait to explore your options. The team at Haselkorn & Thibaut offers free, confidential consultations to help you understand your rights and potential paths to recovery.
Investment losses can impact your financial security and future plans. You deserve answers about what happened and whether you have grounds for recovering your losses. Our experienced attorneys can review your situation, explain your options, and help you make an informed decision about moving forward.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for your free consultation. There’s no obligation, and with our “no recovery, no fee” promise, you have nothing to lose by learning about your rights. Visit investmentfraudlawyers.com to learn more about how we’ve helped investors across the country recover from securities fraud and misconduct.
Your financial future matters. If you’ve been affected by investment losses, take the first step toward potential recovery today.
