NSC Investors Dispute Broker Frank Avallone

Soreide Law Group is presently investigating potential claims on behalf of investors who have sustained financial losses through the actions of securities broker Frank Louis Avallone (CRD: 4814368, South Norwalk, Connecticut). Avallone has been registered with Ceros Financial Services, Inc. since January 11, 2022, and was previously affiliated with National Securities Corporation from October 30, 2015, to February 4, 2022. Notably, various complaints and FINRA Arbitrations have been filed about Avallone, involving allegations such as unsuitable recommendations.

National Securities Corporation Investor Accused Avallone Of Unsuitability

Evidently, on November 28, 2022, a National Securities Corporation client filed FINRA Arbitration: 22-02901 about Frank Avallone. The client specifically alleged unsuitable advice, conflicts of interest, and failure to supervise. Consequently, the client reportedly sustained damages on private placement offerings. Therefore, the client is seeking $2,707,818.00 in compensation either from National Securities Corporation or Avallone. Notably, this arbitration is still pending resolution.

Frank Avallone Disclosed Breach Of Fiduciary Duty Allegations By New Bridge Securities Corporation Client

Additionally, a client of New Bridge Securities Corporation contested Frank Avallone’s sales practices by filing FINRA Arbitration: 22-01480 on July 5, 2022. Notably, the claim alleges unsuitability, breach of fiduciary duty, failure to supervise, breach of contract, and violation of FINRA rules. It appears that Avallone caused the client to sustain damages on alternative investments. Therefore, the client seeks compensation in this ongoing matter.

National Securities Corp Investor Accused Avallone Of Suitability

Also, on November 7, 2019, a National Securities Corp client filed a written complaint about Frank Avallone. Specifically, the client alleged that Avallone made unsuitable recommendations. Because of these allegations, the client supposedly sustained damages on private placement products. Therefore, the client requested $209,200.00 in compensation either from National Securities Corp or Avallone. However, this complaint was closed as of July 2, 2020.

Frank Avallone Disclosed Churning Allegations By Client

A client of Eastbrook Capital Group, Maxim Group LLC, First Midwest Securities, and Global Arena Capital Corp contested Frank Avallone’s sales practices by filing FINRA Arbitration: 13-03710. Particularly, the client alleged breach of fiduciary duty, churning, violation of FINRA conduct rules, negligence, and breach of contract. Supposedly, Avallone caused the client to sustain damages on equities and mutual funds. Therefore, the firms opted to settle the matter on March 29, 2014, by compensating the client in the amount of $2,000.00.

Contact Soreide Law Group For Potential Recovery Of Investment Losses

Investors who have dealt with Avallone, particularly during his tenure at these firms, may contact Soreide Law Group for further information. Did you experience losses because of Frank Avallone? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery. Soreide Law Group has recovered money for investors throughout the United States, works on a contingency fee basis, and advances all costs. Avallone and brokerage firms he worked for deny accusations of sales practice violations.