James Iannazzo Fired From Merrill Lynch

James Iannazzo, a disgraced Merrill Lynch financial adviser, has been fired after being arrested and charged with throwing a drink at employees at Robeks smoothie shop while labeling them ‘f**king immigrant losers.’

According to police reports, Iannazzo – a Merrill Lynch employee for over 25 years – became furious upon learning his son had an allergic reaction to peanut butter. He yelled at employees and demanded to know who made a smoothie for his child that contained peanuts, police said.

The incident was captured on video and quickly went viral across social media platforms. Iannazzo’s rant gained international attention, leading to charges of intimidation based on bigotry or bias, breach of peace and criminal trespass.

He was released on $15,000 bail and is scheduled to appear in court on February 7th, according to the Fairfield Police Department.

His lawyer reports that Iannazzo is in a pretrial program where he will likely complete an anger management course and possibly receive some community service hours. Furthermore, the smoothie shop staff has been instructed not to contact him.

Iannazzo has since been employed by Aegis Capital Corp, which has an office in Westport and offers investment banking and wealth management services. According to his BrokerCheck report, he registered with the firm on March 15.

On Monday, Merrill Lynch issued a statement expressing its displeasure with Iannazzo’s actions and that he has now left the company.

He expressed his regret and admitted to having a momentary loss of temper when calling police to report his son’s life-threatening anaphylactic reaction to alcohol. Additionally, he was given two years probation with no further punishment meted out.

The CFP Board has temporarily suspended his Certified Financial Planner (CFP) certification after being accused of intimidating a smoothie shop employee in Fairfield, Connecticut. The Board’s disciplinary and ethics commission issued the suspension on February 7.

His attorney, Eugene Riccio, declined to provide a statement following Wednesday’s court appearance.

James Iannazzo had been a wealth management adviser and managing director with Merrill Lynch since 1995. According to Barron’s magazine, he consistently ranked among the top 1,200 advisors in Connecticut; his LinkedIn profile revealed he managed $469 million in assets. A frequent guest on television programs, James was one of the highest-paid wealth managers in his field with an impressive LinkedIn following.

Iannazzo, who earned his bachelor’s degree in business from the University of Connecticut in 1995, began working for Merrill Lynch that same month. According to his bio, he has since developed a client base of growing importance within the firm.

In addition to his client work, Iannazzo has also served as a part-time instructor for Merrill Lynch’s investment education program. Furthermore, he is an active participant in his local investment club.

According to a release from the Association for Financial Planning, he is a certified financial planner with the Association and has been an accredited CFP professional since 1998. Additionally, he holds memberships in both the Certified Financial Planners Standards Council and Certified Financial Planners Institute.