Mary Petretto Facing Client Disputes Concerning Annuities

Investors reportedly may have incurred losses because of securities broker Mary Joanne Petretto (also known as MaryJoanne Petretto and MJ Petretto) [CRD: 3210670, Guilford, Connecticut], according to disclosures on FINRA BrokerCheck. According to the regulator, Mary Petretto has worked for Innovation Partners LLC since November 11, 2015. Here’s more about the disclosures related to this securities broker.

Innovation Partners LLC Investor Accused Petretto Of Misrepresentation

Evidently, a client filed a complaint about Mary Petretto. The client alleged that Petretto made misrepresentations of material fact regarding an annuity. Because of this, the client allegedly sustained damages. Therefore, on April 17, 2024, Innovation Partners LLC settled this matter by paying the client $22,799.78 in damages.

NYLIFE Securities LLC Investor Accused Mary Petretto of Churning

Specifically, on March 10, 2013, a NYLIFE Securities LLC client filed a complaint about Mary Petretto. Supposedly, Petretto made unsuitable recommendations regarding an investment plan that involved the purchase of a variable universal life insurance policy and a brokerage account. Additionally, the client alleged churning based on the sale of securities and life insurance products. Because of this, the client allegedly sustained damages. Therefore, the client requested compensation from NYLIFE Securities LLC or Petretto. The complaint was denied.

Petretto Disclosed Unsuitable Recommendations Allegations by NYLIFE Securities LLC Client

Also, a client of NYLIFE Securities LLC contested Mary Petretto’s sales practices, according to a complaint. Allegedly, Petretto made unsuitable recommendations regarding the purchase of a variable annuity policy. The client also alleged that Petretto was aware that the client had no savings and had never invested in the stock market or this type of risk, given her age.

Therefore, NYLIFE Securities LLC opted to settle the matter on January 29, 2010, by compensating the client in the amount of $13,055.85.

Contact Soreide Law About Securities Broker Mary Petretto

Seeking more information about Mary Petretto? If you incurred losses, reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities lawyer about a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Petretto and brokerage firms Petretto worked for deny any allegations of sales practice violations.