Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 27, 2018 indicate that Massachusetts-based Sagepoint Financial broker/adviser Paul Mauro was recently sanctioned by state authorities in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Mauro (CRD# 824304).
Paul Mauro has spent 41 years in the securities industry and has been registered with Sagepoint Financial in Westborough, Massachusetts since November 2017. Previous registrations include SII Investments in Westborough, Massachusetts (2007-2017); Legacy Financial Services in Milford, Massachusetts (1999-2007); InterSecurities in St. Petersburg, Florida (1995-1999); PML Securities in Newark, Delaware (1991-1995); RG Dickinson & Company in Des Moines, Iowa (1990-1991); JT Moran & Company (1988-1990); Buttonwood Securities Corporation of Massachusetts (1987-1988); John Hancock Mutual Life Insurance Company (1976-1987); and John Hancock Distributors (1976-1987). he has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 21, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 29, 1988; and Series 1 (Registered Representative Examination), which he obtained on June 26, 1976. He is a registered broker and investment adviser with 26 US states and territories.
According to his BrokerCheck report, he has received three customer complaints and two regulatory sanctions.
In February 2018 the Massachusetts Securities Division sanctioned him in connection to allegations he had been the subject of prior customer complaints and that the division had received four direct complaints from Massachusetts customers alleging he violated securities laws. He was placed on a five-year period of heightened supervision.
In 1997 a customer alleged Paul Mauro, while employed at 1717 Capital Management Company, provided misleading representations regarding the amount of premiums necessary to support variable life insurance policies, did not provide a prospectus, and did not make them aware of the surrender charges incurred in a 1031 exchange. The complaint settled for $19,144.
In 1998 a customer alleged Paul Mauro, while employed at InterSecurities, failed to deliver a prospectus and failed to follow instructions not to incur sales charges. The complaint settled with the waiver of sales charges amounting to $11,358.
In 1995 a customer alleged Paul Mauro, while employed at PML Securities, misrepresented material facts, recommended unsuitable investments, and failed to timely deliver a variable life insurance policy. The complaint settled for $650,000.
If you or someone you know has lost money investing with Paul Mauro, call the experienced attorneys at 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: 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.