Customer Disputes Allege that Broker Misstated Information and Over Concentrated Portfolio in Unsuitable Investments
According to publicly available information from the Financial Industry Regulatory Authority (FINRA), Oppenheimer Broker Florindo Volpacchio (CRD: 2615828) has received two customer disputes. Mr. Volpacchio has been employed as a broker with Oppenheimer & Co., Inc. since 2018. Prior to his employment with Oppenheimer, Mr. Volpacchio worked for multiple broker-dealers, including Wells Fargo, Credit Suisse Securities, and HSBC Securities.
In the most recent dispute, filed on April 21, 2020, a customer alleges that Mr. Volpacchio over concentrated his portfolio in unsuitable investments. The FINRA arbitration is currently pending.
Before the most recent allegations, Mr. Volpacchio was also the subject of a customer dispute filed on August 27, 2018. The customer alleged that Mr. Volpacchio, acting as his financial advisor, “misstated information regarding securities on monthly reports.” The alleged misconduct occurred in December 2017 while Mr. Volpacchio was employed with Wells Fargo and is still pending.
Stockbrokers, financial advisors, and investment professionals have a responsibility to their clients to make suitable recommendations and provide full and fair disclosures regarding investments. Additionally, FINRArequires that brokerage firms adequately supervise their employees. If an investor experiences losses because of stockbroker misconduct and a firm’s failure to supervise properly, both the broker and the firm may be liable.
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Have you experienced losses because of over concentration or a stockbroker’s or financial advisor’s misstatements or omission? You might be entitled to compensation through a FINRA arbitration. Levin Law can help you recover your losses. Contact Attorney Brian Levin today at (855) 862-2306 or via email at co*****@le********.com for a free consultation. Cases are generally accepted on a contingency-fee basis, meaning that you do not pay attorneys’ fees unless we recover on your behalf.
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