Cetera Investment Services Clients Allege Unsuitable REITs By Mark Senofonte

Financial Industry Regulatory Authority (FINRA) BrokerCheck shows that seven investors filed disputes about securities broker Mark Angelo Senofonte (CRD#: 2038108, Doylestown, Pennsylvania). These disputes mainly concern Senofonte’s actions at Cetera Investment Services, where Senofonte worked as a securities broker from February 2007 to August 2021. It appears that Senofonte was also a financial advisor with Cetera Investment Advisers from 2014 to 2021. Let’s take a closer look at these disputes.

Mark Senofonte’s Client At Cetera Investment Services Alleges Unsuitable Investments

Evidently, a client of Cetera Investment Services disputed Mark Senofonte’s sales practices. Namely, the client alleged that Senofonte’s real estate investment trust (REIT) sales were unsuitable. In addition, the client claims that Cetera Investment Services failed to supervise and that new account documents were unauthentic. For this reason, the client asks for compensation to resolve this ongoing matter.

Senofonte Supposedly Makes Unsuitable REIT Sales To Cetera Investment Services Client

In the second dispute on BrokerCheck regarding Mark Senofonte, a client of Cetera Investment Services disputed Senofonte’s sale of a REIT. According to the client, the REIT was not suitable because of the client’s age and their financial assets. The client asked for compensation. However, Cetera Investment Services denied this investor’s dispute in February 2021.

Client Of Cetera Investment Services Alleges Unauthorized Transactions In Dispute About Mark Senofonte

It appears that another Cetera Investment Services client lodged a dispute about Mark Senofonte in July 2019. Namely, the client alleges that their investment accounts were closed without their consent. Not only that, but the client asserts that their funds have been stolen. Because of this, the client asked for $75,000 in compensation. However, Cetera Investment Services issued a denial of this complaint in September 2019.

Senofonte Supposedly Misrepresents Real Estate Security

In the fourth dispute on Mark Senofonte’s BrokerCheck record, a client of Cetera Investment Services alleges sales practice violations, including misrepresentation. Supposedly, Senofonte misrepresented information regarding the client’s investments in a REIT. Additionally, the client purportedly invested in an unsuitable REIT because of Senofonte. Moreover, Cetera Investment Services allegedly failed to supervise, which resulted in damages to the client. For this reason, Cetera Investment Services opted to pay the client $11,000 to resolve this matter.

PrimeVest Financial Services Clients’ Disputes About Mark Senofonte

It appears that Mark Senofonte worked for PrimeVest Financial Services before joining Cetera Investment Services. Namely, two clients of PrimeVest disputed his sales practices. In one of those disputes, which the firm denied, the client alleges misrepresentation and an unauthorized annuity purchase. And in the second dispute, a client claims that Senofonte did not fully disclose information relating to a variable annuity at the time of his sale. It appears that PrimeVest Financial Services compensated that client in the amount of $26,455.07 to resolve the matter.

Losses By Investing Through Senofonte?

Apparently, securities broker Mark Senofonte denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered compensation for many US clients who have experienced losses from their securities brokers and financial advisors.Lars Soreide AVVO 2020 Top Lawyer

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