Mike Iannarino Barred, Involved In Client Disputes

FINRA Bars Securities Broker Mike Iannarino, And A Private Client Services Investor Files A Dispute About Him

Soreide Law Group provides you with an update on the FINRA BrokerCheck disclosures connected to Michael Joseph Iannarino (“Mike Iannarino”) (CRD#: 1258453, Columbus, Ohio). First, FINRA barred Iannarino for allegedly refusing to provide information and documents when it investigated allegations of his recommendations of promissory notes to investors when he worked for Private Client Services. Not only that, but four investors filed disputes about his sales practices. Here’s a summary of the disclosures about this broker.

FINRA Bars Mike Iannarino For Failure To Turn Over Information In Investigation

It seems that FINRA investigated whether Mike Iannarino violated FINRA rules on promissory notes recommendations. Supposedly, Iannarino only partly responded to FINRA’s requests. Eventually, the broker refused to cooperate with the financial industry watchdog. For this reason, as of June 30, 2020, he is barred as a securities broker.
Before FINRA’s bar of Iannarino, the Ohio Division of Securities sanctioned him for unlicensed investment advisory services and the sale of unregistered securities in the state.

Private Client Services Client Alleges Iannarino Misrepresented Investment

Evidently, a client of Private Client Services pursued a FINRA Arbitration Claim against Mike Iannarino. In this February 2020 matter, the client alleges that Iannarino recommended promissory notes. Supposedly, the broker told the client that this was a low-risk, high-return investment. It appears that the client experienced damages. For this reason, they asked for $140,000 in compensation.

Prior Disputes Allege Misrepresentation, Unauthorized Transactions By Mike Iannarino

Evidently, a Wachovia Securities client filed a dispute about Mike Iannarino. Mainly, the client alleged unauthorized trading of equities and mutual funds. However, Wachovia Securities Denied this dispute. And a Merrill Lynch client contested Iannarino’s sales of a life insurance policy. Supposedly, the broker misrepresented this policy. However, Merrill Lynch denied this dispute.

Stifel Nicolaus Terminates Iannarino As Securities Broker

It appears that Mike Iannarino worked for Stifel Nicolaus after leaving Private Client Services. But in October 2018, Stifel Nicolaus discharged him for allegedly making unauthorized trades.

Did You Face Harm Because Of Securities Broker Iannarino?

Did securities broker Mike Iannarino cause you to suffer losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped many United States investors recover compensation when they have incurred losses by their financial advisors and securities brokers. Please note that Iannarino denies all allegations of his sales practice violations.