The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding California-based Wedbush broker/adviser Kevin Scarpelli (CRD# 412116).
Kevin Scarpelli has spent 48 years in the securities industry and has been registered with Wedbush Securities in San Francisco, California since 1982. Previous registrations include Wedbush Noble Cooke (1980-1981); Birr Wilson & Company (1973-1981); and Dupont Walston (1966-1974). He is a registered broker and investment adviser in eighteen US states.
According to his BrokerCheck report and records provided by the Financial Industry Regulatory Authority (FINRA), Kevin Scarpelli is the subject of one customer complaint and one pending customer complaint.
In 2015 a customer alleged Kevin Scarpelli, while employed at Wedbush Securities, made unsuitable recommendations, abused margin, breached his fiduciary duty, committed fraud, and acted negligently. The customer is seeking $445,416 in damages in the pending complaint.
In 2013 a group of customers alleged Kevin Scarpelli, while employed at Wedbush Securities, acted with professional negligence and failed to supervise his representatives. The complaint settled in November 2015 for more than $500,000.
According to FINRA rules and federal securities law financial professionals like Kevin Scarpelli must abide by a standard known as suitability, requiring them to recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, age, net worth, risk tolerance, and others. Brokers may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers and brokerage firms who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Kevin Scarpelli., call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: you will only pay Fitapelli Kurta if and when you collect money. Time to file your claim may be limited, so we encourgae you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.