FINRA provides important information concerning Joseph Marie Andreoli Jr. (CRD#: 1718688, Hackensack, New Jersey). It appears that the disclosures involving Andreoli concern his financial advisor or securities broker role at securities firms Wells Fargo Clearing Services (his employer from 2009 to 2019) and Smith Barney (his former employer). Read further to learn more about the allegations of unsuitable transactions as reported on BrokerCheck. However, keep in mind that the broker denies alleged sales practice violations.
Specifically, in August 2019, a client of Wells Fargo expressed concerns about Joseph Andreoli’s sales practices. Mainly, the securities broker is accused of unsuitable trading. Supposedly, Andreoli or the securities firm caused the client to experience damages by investing in structured products. For this reason, Wells Fargo acquiesced to resolving this matter, without admitting liability, by paying the client $165,000 in damages on April 20, 2021.
Notably, a client of Salomon Smith Barney complained about Joseph Andreoli’s sales practices. The investor’s causes of action against the securities firm include unsuitable trading, negligence, breach of contract, breach of fiduciary duty, and violation of securities laws. Consequently, the client alleges that Andreoli’s actions led to damages in connection with the client’s investments in treasury bonds. It seems that the client received an award of $56,555 in damages.
Did securities broker Joseph Andreoli cause you to suffer losses? You can contact Soreide Law Group at (888) 760-6552 to speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee arrangement and advances all costs. The firm has helped many United States investors recover compensation when they have sustained damages from securities brokers or financial advisors. Please note that Andreoli denies all accusations of his improper sales practices.
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