Robert D’Agosta Investigation
March 2023- Bethlehem, PA
The FINRA records of Robert D’Agosta, an IBN Financial Services, Inc. broker, disclose a a regulatory event, an arbitration award and 3 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In FINRA case #16-03759, a customer of his prior employer, Berthel Fisher & Company Financial Services, alleged unsuitability, FINRA Rule 2310 violations; Arizona Securities Fraud; breach of contract; breach of the covenant of good faith and fair dealing; breach of fiduciary duty; professional negligence; negligent supervision; negligent misrepresentations; respondeat superior; innocent misrepresentation/constructive fraud; and negligent due diligence. The award was $100,000 plus interest in compensatory damages and $100,000 in punitive damages.
In FINRA arbitration 20-01791, a customer of Mr. D’Agosta’s previous employer, Berthel Fisher & Company Financial Services , alleged that D’Agosta made a series of illiquid, high-commission investments from 2005 to 2014, which were unsuitable and resulted in 0ver-concentration in these products in her portfolio. In addition the client alleged the firm failed to conduct adequate due diligence and was negligent. The case settled for $26,000.
In FINRA arbitration 17-01004, a customer of Berthel Fisher & Company Financial Services alleged unsuitability, misrepresentation in connection with the purchase of REITs and alternative investments and that the firm failed to supervise the actions of D’Agosta and failed to conduct due diligence. The case was settled for $500,000.
In FINRA case 22-00538, another Berthel Fisher & Company Financial Services, Inc. customer alleges unsuitability, and that D’Agosta continuously misrepresentation and or omitted the risks involved in the investments, that the firm failed to conduct due diligence of the alternative investments and failed to supervise the activities of D’Agosta. The case was settled for $25,000.
In October of 2019, Wisconsin Commissioner of Insurance filed Case #19-C43141 alleging that D’Agosta had applied for an insurance license in the state of Wisconsin and he was denied because of prior arbitrations.
D’Agosta has been employed by IBN Financial Services since 8/2019. Prior to that he was with Berthel Fisher & Company Financial Services, Inc.
If you have losses in an account handled by Robert D’Agosta , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney, at no cost to you.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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