Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 27, 2016 indicate that New York-based Wells Fargo Advisors broker/adviser Anthony Dinallo is the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Dinallo (CRD# 2564198).
Anthony Dinallo has spent 21 years in the securities industry and has been registered with Wells Fargo Advisors in Albany, New York since 2008. He was previously registered with Merrill Lynch in Albany, New York (1995-2008). He is a registered broker and investment adviser with 20 US states and territories.
According to his BrokerCheck report, Anthony Dinallo is the subject of two customer complaints and one denied customer complaint.
In 2014, a customer alleged that Anthony Dinallo, while employed at Merrill Lynch, misrepresented material facts related to an investment. The customer sought unspecified damages in the complaint, which was denied.
In 2002, a customer alleged that Anthony Dinallo, while employed at Merrill Lynch, recommended unsuitable investments, churned the account, and failed to follow a request. The complaint settled for $83,000.
In 2001, a customer alleged that Anthony Dinallo, while employed at Merrill Lynch, misrepresented material facts related to a product. The complaint settled in 2002 for more than $12,900.
FINRA rules and federal securities law require that brokers like Anthony Dinallo recommend only investments that are suitable for their customers. The suitability standard requires financial professionals to consider the client’s age, investment goals, investment experience, risk tolerance, net worth, and many other factors. Brokers may not misrepresent or omit material facts related to an investment, as misrepresentations or omissions might lead a client to invest unsuitably. Brokers are also forbidden from churning customer accounts, which refers to the practice of making excessive transactions with the purpose of generating commissions. Brokers who fail to recommend suitable investments, or who engaged in churning, may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing or have complaints regarding Anthony Dinallo, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be qualified to recover your losses. All cases are taken on contingency: we only get paid if and when you recover 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.