Last Updated: October 2025 — Wayzata, MN
Here’s what you need to know about Wayzata, MN stockbroker Lawrence Aloysius Whipple III:
- Name: Lawrence Aloysius Whipple III (a/k/a Lawrence A. Whipple III)
- Current Employer: Not currently registered with a FINRA-member broker-dealer. Most recent broker-dealer: Merrill Lynch, Pierce, Fenner & Smith Incorporated (registration 09/2015–10/2025).
- Prior Firms: 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. Incorporated (New York, NY, 07/1996–08/2008).
- Other Business Affiliations: Board Member, H B Memorial Award Foundation (charitable; Plymouth, MN; began 06/11/2025).
- CRD number: 2701809.
- Stockbroker / Financial Advisor: Former FINRA-registered broker; not currently registered. Has passed the Series 7, SIE, Series 63, Series 66, and principal/supervisory exams (Series 9/10/24).
- Can Broker be Sued in FINRA: Yes. (Customer disputes and employment separations are arbitrated in FINRA forum.)
- Sanctioned by Securities Regulators: No regulatory sanctions disclosed in the provided report. (One customer dispute and one termination disclosure are reported.)
- Discloses Outstanding Liens: Not disclosed in the provided report.
- Discharged by a Prior Employer: Yes. Discharged by Merrill Lynch on 09/05/2025; stated reason: “Conduct including unauthorized trading in a client account.” Product type noted: corporate debt.
- Highest Award of Settlement: $500,000 (customer dispute settled 08/25/2025; alleged damages were $2,000,000).
- Current Customer Dispute Seeks Total Damages of: N/A (no pending dispute reported in the document). The 2024 complaint originally sought $2,000,000 before settling for $500,000.
If you’ve sustained damages from Mr. Whipple, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Lawrence A. Whipple III as Your Stockbroker?
A customer dispute reported against Mr. Whipple (then at Merrill Lynch, Pierce, Fenner & Smith Incorporated) alleged excessive trading in listed equities from December 2022 to November 2023.
- Complaint received: May 14, 2024.
- Alleged damages: $2,000,000.
- Resolution: Settled on August 25, 2025 for $500,000 (no individual contribution reported).
- Case number: Not listed in the BrokerCheck excerpt provided.
Separately, Merrill Lynch discharged Mr. Whipple on September 5, 2025, citing “conduct including unauthorized trading in a client account” (product type: corporate debt).
Allegations of Broker Misconduct Against Lawrence A. Whipple III
- Unsuitability / Excessive Trading (Churning): Recommending or effecting trades not reasonably aligned with a customer’s profile may violate FINRA Rule 2111 (Suitability); excessive trading can also violate FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade).
- Breach of Fiduciary-Type Obligations / Best-Interest Duties: For retail recommendations after June 30, 2020, brokers must comply with SEC Regulation Best Interest (Exchange Act Rule 15l-1), including the Care Obligation.
- Fraud / Misrepresentation or Omission of Material Facts: Using deceptive devices is prohibited by FINRA Rule 2020 and can also implicate Rule 2010.
- Unauthorized Trading: Executing trades without prior written authorization and firm approval can violate FINRA Rule 3260 (Discretionary Accounts) and Rule 2010. The employer’s termination disclosure expressly referenced unauthorized trading.
Recover Your Investment Losses Now With Rex Securities Law
See this for our prior investigations of Merrill Lynch brokers.
If you have suffered investment losses in an account handled by Lawrence A. Whipple III, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
Firms We Have Pursued On Behalf of Our Clients
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.