Category Archives: Unsuitable Investments
Florida Brokerage Firm Censured, Fined for Failure to Implement Supervisory System to Regarding the Recommendation of Risky Alternative Mutual Funds
J.W. Cole Financial, Inc. (CRD No. 124583) is a national brokerage firm with main headquarters in Tampa, Florida. The broker-dealer is licensed to operate in 52 U.S. states and territories. In March of 2021, the Financial Industry Regulatory Authority (FINRA) announced a censure and fine against J.W. Cole Financial, Inc. Here, our Miami unsuitable… Read More »
South Florida FINRA Arbitration Panel Awards Investor $89,675 in Unsuitable Investment Claim
On December 22nd, 2020, a FINRA arbitration panel in Boca Raton, Florida awarded an investor $89,675 in compensatory damages (Case Number: 19-00522). The respondent in the claim was UBS Financial Services, Inc. (CRD#: 8174/SEC#: 801-7163,8-16267), a national brokerage firm with a main office in Weehawken, New Jersey. In this post, our Miami unsuitable investment… Read More »
FINRA Arbitration Panel Awards Investors Approximately $250,000 in Compensatory Damages
On June 18th, 2020, a FINRA Arbitration Panel awarded a pair of investors approximately $250,000 in compensation in a broker negligence claim (Case Number: 20-00620). The respondents in the case were Anthony Mastroianni Jr. (CRD#: 2151249), John F. Riccardi Jr. (CRD#: 4771185), and Windsor Street Capital LP (CRD#: 34171/SEC#: 8-46219). Notably, the FINRA arbitration… Read More »
Miami Broker Facing FINRA Complaint for Misrepresentation, Unsuitable Investment Recommendations
Roberto A. Hernandez (CRD#: 1404389) is licensed securities broker and registered investment adviser (RIA). Since 2007, Mr. Hernandez has been employed as a representative of Merrill Lynch. Pierce, Fenner & Smith at a branch office in Miami, FL. In the fall of 2019, an investor filed a complaint against the Merrill Lynch broker alleging… Read More »
FINRA Arbitration Panel Awards Florida Investor $100,000 in Unsuitable Investment Claim
On August 29th, 2019, a Tampa-based FINRA Arbitration panel awarded $100,000 in compensatory damages to a Florida-based investor (FINRA Office of Dispute Resolution Case Number: 18-02477). Among other things, the investor in this case alleged that he suffered illegitimate investment losses as a result of unsuitable investment recommendations and lack of proper diversification. Unsuitable… Read More »
Delray Beach, FL Broker Barred for Failure to Cooperate With Investigation Into Allegations of Unsuitable Investment Recommendations
Thomas John Marino (CRD#: 4438533) is a previously licensed securities broker and registered investment advisor (RIA). Most recently, Mr. Marino was an associate of R.M. Stark & CO in Delray Beach, Florida. Prior to that, he worked as a representative for J.W. Cole Financial (2009 to 2012) and Newbridge Securities (2009). On July 18th,… Read More »
Palm Beach County Broker Barred for Failure to Cooperate With an Investigation into Unsuitable Investment Recommendations
Rafael Golan (CRD#: 1074079) is a previously registered securities broker. From 2007 to 2019, Mr. Golan was employed at Crystal Bay Securities in Delray Beach, Florida. Prior to that, this financial advisor was also associated with Independent Financial Group (2004 to 2006), Sentra Securities Corporation (2001 to 2004), and Prime Capital Services (1999 to… Read More »
Miami, FL Morgan Stanley Broker Barred After Failing to Provide Information to FINRA
Scott J. Donato (CRD#: 2336331) is a former securities broker and registered investment advisor (RIA). He has been licensed for 23 years. From 2009 to 2017, Mr. Donato was employed as a representative of Morgan Stanley, where he was based at a branch office in Miami, Florida. As of March 14th, 2019, Mr. Donato… Read More »
FINRA Arbitration Panel: Brokerage Firm Liable for Losses Sustained in Unsuitable REITs
Recently, the Financial Industry Regulatory Authority (FINRA) Office of Dispute Resolution announced that a Florida investor was awarded compensation in an arbitration claim that was filed against Ameriprise Financial Services and its representative Carroll Thomas Clark (CRD#: 734524). According to the agency, the investor filed a complaint alleged unsuitable investment losses. Specifically, these losses… Read More »
FINRA Arbitration Panel: Florida Investor Awarded Compensation for Puerto Rico Bond Losses
On February 11th, 2019, the Financial Industry Regulatory Authority (FINRA) Office of Dispute Resolution announced that a Florida investor, representing his retirement plan, was entitled to $135,629.61 in compensatory damages and associated legal costs. The dispute (Case Number: 16-00737) was centered around investments in Puerto Rican government bonds. In this article, our experienced Miami… Read More »
