Angelo Anello Investigation
April 2024 – Needham, MA
According to publicly available records Angelo Anello , a broker with LPL Financial discloses a prior customer dispute and 2 pending 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.
FINRA case #21-00246, filed by an LPL Financial customer, alleged that purchases of certain investments for their portfolios were unsuitable. The case settled for $14,500.
In 3/2023, an LPL Financial customer, alleges poor performance and misrepresentation with respect to structured products and is seeking damages of $84,538. The case is currently pending.
In FINRA case #23-00595, an LPL Financial customer alleges that Anello recommended investments in structured products which were not suitable for customer’s risk tolerance. Damages are $100,000 and the case is currently pending.
Structured Products: Sometimes referred to as market-linked investments, Structured Products are pre-packaged investments whose performance is linked to an underlying asset, product or index. ( a single security, basket of securities, options, indicies, commodities, debt issuance, foreign currencies or derivatives). See this for FINRA’s Investor Insights “Understanding Structured Notes with Principal Protection”
Anello has been employed by LPL Financial since 5/2009.
If you have losses in an account that was handled by Angelo Anello contact us for a no charge consultation to learn how you may be entitled 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.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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