Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 29, 2016 indicate that Florida-based Wells Fargo Advisors broker/adviser Robert Chiavacci has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Chiavacci (CRD# 1155902).
Robert Chiavacci has spent 33 years in the securities industry and has been registered with Wells Fargo Advisors in Clearwater, Florida since 2008. He was previously registered with AG Edwards & Sons in Clearwater, Florida (1983-2008). He is a registered broker and investment adviser with 31 US states and territories.
According to his BrokerCheck report, Robert Chiavacci has received one customer complaint.
In 2013 a customer alleged Robert Chiavacci, while employed at Wells Fargo Advisors, unsuitably used margin and did not properly review the account. The complaint settled in 2014 for $300,000.
“Margin” refers to the practice of borrowing funds from one’s broker or investment adviser to purchase a security, with that security itself used as collateral in the transaction. There are many benefits to purchasing securities on margin, chiefly the increase of purchasing power that allows investors to buy more securities without completely paying for them. There are also many risks, chiefly the increase in potential for significant losses. Brokers, investment advisers, and broker-dealer firms who unsuitably recommend investments on margin may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have suffered losses while investing with Robert Chiavacci, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.