Investigation: Commonwealth Financial’s James Galante

shutterstock_1100090The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding California-based Commonwealth Financial broker/adviser James Galante (CRD# 4310538).

James Galante has spent fourteen years in the securities industry and has been registered with Commonwealth Financial Network in San Diego, California since 2013. Previous registrations include SII Investments in San Ramon, California (2008-2013); Securities Service Network in San Diego, California (2006-2008); and FSC Securities Corporation in San Diego, California (2000-2006). He is a registered broker and investment adviser in twelve US states and territories.

According to his BrokerCheck report, James Galante is the subject of one denied customer complaint.

In 2009 a customer alleged James Galante, while employed at Securities Service Network, made material misrepresentations in connection to an investment in two annuity contracts. The customer sought $40,000 in damages in the complaint, which was denied.

According to FINRA rules and federal securities law investment professionals like James Galante must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you have lost money investing with James Galante, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets 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.

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