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In the News

Ex-Merrill FA Fired After Smoothie Incident Now at Aegis Capital

Posted by Louis Diamond

March 17, 2022
Louis Diamond Quoted
by Alex Padalka

The former Merrill Lynch financial advisor charged with criminal trespass and other counts following an incident at a Connecticut smoothie shop that went viral has ended up with Aegis Capital.

Iannazzo had been registered as a broker and advisor with Merrill since 1996. The wirehouse terminated the advisor within two days after the incident went viral, saying it doesn’t “tolerate behavior of this kind.”

A firing over an allegedly racist rant could lead to employment challenges, but it’s not necessarily the end of the road, according to Louis Diamond, president of the recruiting firm Diamond Consultants.

“What normally happens is an advisor will need to be flexible with the types of firms they will consider and often times it means hanging one’s own shingle as an Investment Advisor Representative of an RIA or by registering as an independent with a broker-dealer,” Diamond previously told FA-IQ.

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