Soreide Law Group has important information to share with you regarding securities broker Cristiano Tempo Castellini (CRD#: 2954284, Beverly Hills, California). Namely, three investors challenged his sales practices at Merrill Lynch Pierce Fenner Smith (“Merrill Lynch”). Let’s look at what these investor disputes allege.
Evidently, Cristiano Castellini joined Merrill Lynch Pierce Fenner Smith in October 2014. He works as both a financial advisor and securities broker. Apparently, a client complained about his sales practices. Supposedly, Castellini made unauthorized trades in the client’s account. Secondly, Castellini allegedly misrepresented information in connection with management fees from December 2014 to March 2017. It appears that Merrill Lynch denied this dispute in February 2021.
Notably, a second client of Merrill Lynch took aim at Cristiano Castellini’s sales practices. In the April 2020 dispute, the client's central allegation is that Castellini did not follow their instructions. It appears that this dispute relates to the client’s investment account at Merrill Lynch. However, the securities firm reportedly denied this dispute.
Moreover, a client of Merrill Lynch filed an NASD Arbitration Claim regarding Cristiano Castellini. This matter concerns allegations of Castellini’s unsuitable trading and overconcentration of the client’s account in over-the-counter equities. It seems that the client experienced damages because of the broker. For this reason, they obtained $75,000 in a settlement with Merrill Lynch.
Did Cristiano Castellini cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for many United States investors who incurred losses because of their financial advisors and securities brokers. Please note that Castellini denies all allegations of his sales practice violations.
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