Securities Broker Cynthia Giovacchino Faces Investor Disputes Alleging Unsuitability
Investor disputes are disclosed on the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck record of Cynthia Ann Giovacchino (CRD#: 3274194, Ansonio, Connecticut). Namely, the securities broker, who works for LPL Financial LLC as financial advisor (November 2012 to present) and securities broker (October 2011 to present), faces disputes involving LPL Financial clients. Notably, those disputes allege sales practice violations including unsuitable recommendations. Here’s more about the claims.
LPL Financial Client Alleges Unsuitable REITs In FINRA Arbitration Action Involving Cynthia Giovacchino
Specifically, the client brought this FINRA Arbitration Claim in January 2020 about Cynthia Giovacchino in regard to unsuitable real estate investment trusts (REITs). Supposedly, the securities broker did not fully disclose risks of investing in the REITs. Also, the client’s net worth was purportedly falsely stated on account documents. For this reason, they asked for compensation. It appears that LPL Financial opted to settle this lawsuit through making a $63,713.96 payment to the client in April 2020.
Giovacchino’s Client At LPL Financial Alleges Unsuitable Recommendations, Failure To Disclose Risks
It appears that a second LPL Financial client came forward to contest Cynthia Giovacchino’s sales practices. In particular, the client made a complaint in January 2020 regarding Giovacchino’s recommendations. Supposedly, the securities broker recommended an unsuitable REIT and did not appropriately disclose risks about the investments. Similar to the other dispute, this client also alleged that their account information, including their liquid net worth, was in accurate on documents. To resolve this matter in April 2020, LPL Financial made a $35,693.30 payment to the client.
Cynthia Giovacchino’s Client At LPL Financial Alleges Failure To Disclose Alternative Investment Information
In a third dispute reported on Cynthia Giovacchino’s record, a client of LPL Financial took issue with her real estate securities sales. Specifically, the client first alleged that they were not told of liquidity restrictions on an alternative investment. Secondly, the securities broker allegedly made an unsuitable recommendation resulting in damages to the client from 2014 to 2018. However, LPL Financial denied this dispute.
Did You Experience Losses By Investing Through Broker Cynthia Giovacchino?
Have you incurred losses because of Cynthia Giovacchino at LPL Financial? If so, contact Soreide Law Group at (888) 760-6552 and speak with our securities attorney about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has meaningfully helped investors recover compensation for financial advisor and securities broker misconduct. FINRA BrokerCheck indicates that Giovacchino denies all allegations of her sales practice violations.