Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on June 23, 2016 indicate that North Carolina-based Kalos Capital broker/adviser Gary Mastrodonato is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Mastrodonato (CRD# 723366).
Gary Mastrodonato has spent 33 years in the securities industry and has been registered with Kalos Capital in Oriental, North Carolina since 2014. Previous registrations include First Heartland Capital in Oriental, North Carolina; Resource Horizons Group in Oriental, North Carolina; Capital Investment Group in Oriental, California; Securities America in Oriental, California; SunAmerica Securities in Phoenix, Arizona; Berthel Fisher in Cedar Rapids, Iowa; Continental Capital Investment Services in Bryan, Ohio; Pacific Select Distributors in Newport Beach, California; Linsco/Private Ledger in Boston, Massachusetts; and nine other broker-dealer firms between 1981 and 1995. He is a registered broker and investment adviser with nine US states and territories: California, Connecticut, Georgia, Maine, New Jersey, New York, North Carolina, Pennsylvania, and Texas.
According to his BrokerCheck Report, Gary Mastrodonato has received one pending customer complaint and one regulatory sanction, and was discharged from Securities America.
In April 2016, a customer alleged Gary Mastrodonato, while employed at Kalos Capital, churned the account. The customer is seeking $59,000 in damages in the pending complaint.
In 2011, FINRA sanctioned Gary Mastrodonato following allegations, among others, he contravened the supervisory procedures of his member firm, Securities America, by submitting “at least 12 variable annuity exchange applications directly to the annuity product sponsor to be processed without [his] firm’s supervisory review.” He was issued a 30-day suspension and a fine of $10,000.
In 2009, Gary Mastrodonato was terminated from his position at Securities America following allegations he failed to follow firm policies and procedures relating to “the submission of policies.”
If you or someone you know has lost money investing with Gary Mastrodonato, 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: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.