Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 29, 2018 indicate that Massachusetts-based Merrill Lynch broker/adviser Robert Kostigen has received a customer dispute and a regulatory sanction. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kostigen (CRD# 1203410).
Robert Kostigen has spent 28 years in the securities industry and has been registered with Merrill Lynch in Burlington, Massachusetts since 2009. Previous registrations include Banc of America Investment Services in Concord, Massachusetts (2004-2009); Quick & Reilly in New York, New York (2000-2004); BankBoston Investor Services in Boston, Massachusetts (1996-2000); Baybanks Brokerage Services (1993-1996); Congress Securities Company (1992-1993; 1989-1990); Liberty Securities Corporation (1987); Fidelity Brokerage Services (1986-1987); Dean Witter Reynolds (1984-1986); and Buttonwood Securities Corporation of Massachusetts (1984). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 22, 1998; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 3, 1992; Series 7 (General Securities Representative Examination), which he obtained on June 4, 1992; and Series 24 (General Securities Principal Examination), which he obtained on February 27, 1999. He is a registered broker and investment adviser with 21 US states and territories: California, Colorado, Connecticut, the District of Columbia, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia, and Wisconsin.
According to his BrokerCheck report, he has received one customer complaint, one regulatory sanction, and two denied customer complaints.
In March 2018 a customer alleged Robert Kostigen, while employed at Merrill Lynch, failed to follow instructions in connection with a mutual fund investment. The customer sought $5,054 in damages in the complaint, which was denied.
In 2012 FINRA sanctioned him following to allegations that he improperly placed two customers’ initials and/or signatures on certain documents, or caused such “to be placed thereon,” in connection with five annuity purchases which were authorized by the customers. He was issued a 20-day suspension and a fine of $5,000.
In 2009 a customer alleged Robert Kostigen, while employed at Banc of America Investment Services, misrepresented and recommended unsuitable variable annuity purchases. The complaint, in which he was not a named respondent, settled with the rescission of certain of the claimant’s annuities.
In 2008 a customer alleged Robert Kostigen, while employed at Banc of America Investment Services, misrepresented material facts related to a variable annuity contract. The customer sought more than $62,000 in damages in the complaint, which was denied.
If you or someone you know has lost money investing with Robert Kostigen, call 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.