Nicholas Buonocore Received Two Customer Complaints

Nicholas Buonocore

Public records published by the Financial Industry Regulatory Authority (FINRA) on February 1, 2017 indicate that North Carolina-based Mutual of Omaha Investor Services broker Nicholas Buonocore has been the subject of customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Buonocore (CRD# 4568434).

Nicholas Buonocore has spent thirteen years in the securities industry and has been registered with Mutual of Omaha Investor Services in Wilmington, North Carolina since January 2017. Previous registrations include MML Investors Services in Wilmington, North Carolina; Worden Capital Management in Wilmington, North Carolina; Olympia Asset Management in New York, New York; and Murjen Financial in Jericho, New York. He is a registered broker in North Carolina.

According to his BrokerCheck report, Nicholas Buonocore has received two customer complaints.

In 2014 a customer alleged Nicholas Buonocore, while employed at Worden Capital Management, churned investments and used margin excessively. The complaint settled in 2014 for $65,000.

In 2009 a customer alleged Nicholas Buonocore, while employed at Olympia Asset Management, breached his fiduciary duty, committed fraud, misrepresented material facts, and churned investments. The complaint resulted in an award to the customer of $55,900.

Trading on “margin” refers to the practice of investors borrowing funds from their broker-dealer to purchase a security. The security itself serves as collateral in the transaction. Benefits to trading on margin include an increase of purchasing power, allowing investors to buy more securities without paying for them from one’s own funds. 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 lost money investing with Nicholas Buonocore, you may be entitled to recoup your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get 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.