One or more investors apparently complained about securities broker Pasquale Evangelista (also known as Pat Evangelista) [CRD: 2443782, Naples, Florida], based on disclosures on FINRA BrokerCheck. Evidently, Pasquale Evangelista has worked for Raymond James Associates Inc. since March 19, 2010, serving both as a broker and investment adviser at their Naples, Florida branch. See the following information to learn more about the client dispute currently pending against this securities broker.
Particularly, on June 21, 2024, a Raymond James Associates Inc. client filed FINRA Arbitration No. 24-01383 about Pasquale Evangelista. The client alleged that Evangelista had a conflict of interest because of simultaneously servicing the client’s account, her sibling’s account, and a trust. The client also alleged that Evangelista pressured her to sell securities to pay down a line of credit—despite her account not being the primary pledged asset—causing financial harm. Allegedly, once the funds were transferred, her account was frozen, and further securities were liquidated because the account balance no longer met the required loan-to-value ratio. These alleged activities occurred between August 2018 and August 2023. Because of this, the client allegedly sustained damages on mortgage (pledged assets) products. Therefore, the client requested $277,686.00 in compensation from Raymond James or Evangelista. Evidently, this arbitration is pending a resolution.
An allegation of unsuitable recommendations refers to situations where a broker or financial advisor suggests investments that are not appropriate for the client’s personal financial situation, objectives, risk tolerance, or investment profile. FINRA requires brokers to have a reasonable basis for believing that a recommended investment is suitable based on these factors. When advisors disregard these responsibilities, it can lead to losses for clients, especially when the investment carries risks that the client did not know of.
Did you experience losses because of Pasquale Evangelista? You can reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer regarding a possible recovery of your investment losses. Soreide Law Group has helped recovered losses for clients located throughout the country, works on a contingency fee basis, and advances all costs. Evangelista and any registered investment advisors / securities broker dealers Evangelista worked for deny accusations of sales practice violations.
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