Matthew Platnico In Allied Millennial Investors’ Suitability Disputes

Suitability The Focus Of Allied Millennial Partners Investor's Dispute Involving Broker Matthew Platnico

Soreide Law Group comes to you with an update regarding investment disputes involving securities broker Matthew Eric Platnico (CRD#: 2102086, New York, New York). It appears that Platnico worked for Oppenheimer as financial advisor and securities broker. Now, he works for Millennial Advisers LLC as financial advisor (January 2020 to present) and Allied Millennial Partners LLC (April 2019 to present). Evidently, the Financial Industry Regulatory Authority (“FINRA”) reports that four investors disputed his sales practices. Here’s more on these disputes about the securities broker.

Allied Millennial Partners Client Alleges Unsuitable Investment Strategy By Matthew Platnico

It appears in this March 2021 FINRA Arbitration Claim that Matthew Platnico was responsible for investing options in the client’s Allied Millennial Partners account. Supposedly, the securities broker used an unsuitable investment strategy. Allegedly, the client incurred damages or losses from December 2019 and March 2020 at Allied Millennial Partners. For this reason, the investor asked for $370,000 in compensation to resolve this ongoing matter.

Client Alleges That Allied Millennial Securities Broker Made Unsuitable, Unauthorized Trades

Evidently, there is a second Allied Millennial Partners who disputed Matthew Platnico’s sales practices. Specifically, in this July 2020 lawsuit, the client first alleged that Platnico made unsuitable options trades involving index options. Secondly, the securities broker supposedly made trades without the client’s authorization. For this reason, the investor expects payment of $1,460,000 to settle this matter. It appears that this matter is ongoing as well.

Oppenheimer Client Claims That Matthew Platnico Made Unauthorized Trades

The Oppenheimer client brought the dispute in February 2019 regarding Matt Platnico’s options trading. It appears that the securities broker purportedly did not get approval regarding closing the client’s short position. Because of this, the client supposedly experienced losses by holding the position in December 2018. Evidently, Oppenheimer opted to settle this matter through making a $95,690 payment to the client in February 2019.

Securities Broker Supposedly Misrepresents Options To Oppenheimer

Also, a client of Oppenheimer took aim at Matthew Platnico through a February 2019 FINRA Arbitration Claim. Namely, Platnico supposedly misrepresented the options strategy used for the client’s account in April 2018 to December 2018. Not only that, but the client claimed that the investment strategy was not suitable. Generally, suitability relates to a client’s risk tolerance, investment objectives and financial needs. Given the allegations of misrepresentation and unsuitability, the client demands $265,627.73 in compensation. Evidently, this matter is unresolved.

Did You Experience Losses By Investing Through Matt Platnico?

Have you experienced losses because of broker Matthew Platnico? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a potentially viable recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis, and it advances all costs. The firm has recovered substantial compensation for investors who have fallen victim to financial advisor and securities broker mistakes. FINRA BrokerCheck shows that Platnico denies all allegations of his sales practice violations.

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