NICHOLAS TRAVASCIO Allegedly Gives Bad Advice

LPL Financial's Nicholas Travascio Allegedly Recommended Unsuitable REITs

Investors are voicing complaints and serious concerns in regard to Nicholas Travascio [CRD#: 2581756, Hurst, Texas]. Supposedly, the securities broker, who worked for LPL Financial between May 1999 and December 2018, discloses 3 investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Namely, LPL Financial clients indicate that Travascio recommended unsuitable or misrepresented REITs which caused them to experience losses. For additional information concerning Travascio, see below.

LPL Financial Client Indicates Nicholas Travascio Made Unsuitable REIT Recommendation

Evidently, a client of LPL Financial contested Nicholas Travascio in a complaint dated October 30, 2019. Namely, Travascio allegedly recommended an unsuitable REIT. Supposedly, these real estate investment trusts conflicted with the client’s investment profile. It seems that Travascio caused the client to experience serious losses by purchasing these securities. As a result, LPL Financial agreed to resolve the matter on December 2, 2019 through paying the client $8,000.

LPL Financial Client Indicates That Travascio Gave Bad Advice About Alternative Investments

Also, on July 12, 2019, an LPL Financial client filed a formal dispute about Nicholas Travascio. Apparently, Travascio recommended for the client to invest in alternative investments. Supposedly, Travascio’s recommendations were unsuitable because of how risky these securities were.  It appears that these investments were not consistent with the client’s risk tolerance or other criteria relating to suitability. For this reason, on October 7, 2019, LPL Financial settled this client’s dispute by paying the client $19,000.

Nicholas Travascio Allegedly Misrepresents LPL Financial Client

Notably, a client of LPL Financial took aim at Nicholas Travascio via a complaint dated April 16, 2010. Allegedly, Travascio misrepresented important facts in connection with his REIT sales. Supposedly, the real estate investment trusts which Travascio recommended or sold had caused the client to experience losses. As a result, the client asked for $5,000+ in compensation from LPL Financial or Travascio. However, this claim was denied.

Did Nicholas Travascio Sell You Bad Investments?

Have you experienced losses by investing with Nicholas Travascio? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Travascio.