Brian Shambo at Merrill Lynch: Hidden Fees, Legal Disputes, and Misleading Claims (Report 2023)

Brian Shambo Merrill Lynch is a well-known wealth manager in the Florida city of Vero Beach. His company says a lot about how good it is at what it does and how much it cares about its clients. But the truth is that their terms and conditions have a lot of things that don’t make sense.

Because of these competing interests, the business has a reason to ignore what its clients want. As an investment, you have the right to know about these things so that you can make a smart choice. The summary below will help:

Who is Brian Shambo?

Shambo, Brian Merrill Lynch is a company that helps people with their money in Vero Beach, Florida. His office number is 772-231-9051, and it is at 660 Beachland Blvd Suite 101, Vero Beach, FL 32963 US. It’s open Monday through Friday from 9 am to 5 pm.

Shambo Schwibner & Associates is the name of the company that Brian works for. They work with families and say they can help them figure out how to grow their assets, keep their money safe, and plan their heritage.

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Brian Shambo is in charge of running this company. Jeremy Schwibner, who is the Senior Vice President, and Scott Schwartz, who is the Assistant Vice President, are also important people at this company.

They offer long-term care insurance, trust and estate planning services, home loans, succession planning, securities-based lending, exchange funds, educating funding, donor-advised funds, structured lending, charity trusts, and more to their clients.

This company says it uses a goals-based wealth management process that works with its clients’ personal and professional lives, but its disclosures show otherwise. Brian Shambo Merrill Lynch makes more money, according to their terms and conditions, when he doesn’t care about your best interests.

The next part of this detailed review will go into more depth on these problems, which Brian and his team didn’t:

Reasons To Avoid Brian Shambo

Dispute With Clients

When looking into a wealth advisor, it’s a good idea to look at their work background. Check their FINRA BrokerCheck page to do this.

There, you can find out about their past jobs, their state licenses, how many years of experience they have, and any legal problems they have had during their careers. Brian Shambo’s FINRA BrokerCheck page shows that he has one court problem.

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The date was January 19, 2016. In this case, the client said that Brian gave bad advice about investments from March 2015 to January 2016.

Merrill Lynch said that this complaint was not valid and that they did not agree with it.

The buyer hadn’t said how much damage there was.

It’s not easy for the client to win in these kinds of cases. This is because advisors like Brian make you sign a bunch of waivers before you start working with them. These waivers keep them from having to pay you back if they give you bad advice that costs you money.

The Schultz Group Morgan Stanley is another company that does this to avoid taking the blame.

Charging Hidden Fees

Shambo, Brian Merrill Lynch, and his team often suggest assets with fees of 12b-1. This is a percentage fee that changes based on how big your stock is. Because of this, it hurts families and their big portfolios the most.

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The fact that advisors can charge secret fees is another problem with 12b-1 fees. It’s a fee that can change, and they can use it to sneak in other fees.

Worse, investments that charge this fee don’t give better results than those that don’t. The SEC did a thorough study on this topic and found that the results on both were the same.

The study found that the higher prices of investments with a 12b-1 fee hurt their return on investment (ROI).

Companies give brokers a marketing fee so that Brian Shambo and his team have a financial reason to promote such investments. Check the fees you’ll have to pay if you decide to give them your account.

Selling Investment Instead Of Recommending

Brian and his team get paid fees for selling certain types of investments. They get more money from some businesses than from others. So, they have a reason to push those few projects and ignore the rest, even if most of their clients wouldn’t be interested in them.

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This is bad news for most of their clients because it means their results may not be as good as they hoped.

Your wealth advisor should only suggest options based on how well they fit with your goals. But if your financial planner gets paid by commissions, they might ignore your needs to make a few extra bucks.

It’s very wrong, but it happens a lot. The best way to deal with this situation is to stay away from these kinds of advisors.


After looking at the bad parts and the lawsuit, it’s clear that Brian Shambo Merrill Lynch is not as trustworthy as he says he is. His company is using shady ways to get investors to sign bad contracts.

Find a different wealth advisory company and stay away from Brian’s firm at all costs.

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