October 2019- Westbury, NY
According to publicly available records Allan P Montalbano (CRD#4507029) , a stockbroker who is not currently registered and who was last registered with Worden Capital Management , disclose 13 prior customer disputes and 1 pending customer dispute.
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.
From September of 2009 until August of 2017 there were 11 FINRA cases filed against Montalbano by customers of Worden Capital and National Securities Corp. with allegations of churning, unsuitability, breach of contract, negligence, reckless and intentional misrepresentation, breach of fiduciary duty, breach of contract, excessive trading, unauthorized trading, negligent and misrepresentation. These cases were settled at various amounts totaling more than $1.2 million.
In August 2018, a National Securities Corp. customer filed FINRA case #18-02616 alleging breach of fiduciary duty, negligence, negligent misrepresentation and breach of contract and is currently seeking damages of $280,000.
Alan Montalbano was employed by Worden Capital from June of 2015 to January 2018. He was employed by Four Points Capital Partners from June 2014 until June 2015 and with National Securities Corp. from August 2010 until June 2014. Before that he was with Woodstock Financial Group, Chase Investment Services Corp. and NY Life Securities. Montalbano discloses business affiliations with APM Consulting Services.
If you have questions about an investment account handled by Allan Montalbano contact us for a no charge consultation to learn about your legal options.
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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