Pat Vitucci Involved In United Planners Investor Dispute

Client Of United Planners Financial Services Takes Issue With Broker Pat Vitucci's Variable Annuity Sales

The Financial Industry Regulatory Authority (FINRA) contains new disclosures concerning securities broker Pasquale “Pat” Vitucci (CRD#: 2290163, Walnut Creek, California). It appears that 21 investors filed disputes alleging sales practice violations by the securities broker.
FINRA BrokerCheck shows that Vitucci works for United Planners Financial Services of America as a securities broker and financial advisor (June 2017 to present). He worked as a securities broker and financial advisor for firms National Planning Corporation and NPC of America (2008 to 2017) and previously worked for AIG Financial Advisors Inc. and SunAmerica Securities Inc. Here’s more about the investor disputes, including how you could consult with Soreide Law Group to discuss your options if you sustained losses.

United Planners Financial Services Client Alleges Misrepresentation, Breach Of Fiduciary Duty By Pat Vitucci

Evidently, a client of United Planners Financial Services of America filed a FINRA Arbitration Claim in July 2021 about Pat Vitucci. First of all, the client alleged a breach of fiduciary duty. Secondly, Vitucci supposedly misrepresented information about a variable annuity. Thirdly, the client alleges negligent supervision by United Planners Financial Services concerning the variable annuity. Finally, the client alleges elder abuse and breach of contract. Because of this, the client asked for compensation in this ongoing matter.

National Planning Corporation Client Claims Breach Of Contract, Unsuitability

The second most recent dispute on BrokerCheck about Pat Vitucci comes from a National Planning Corporation client. The Statement of Claim contains allegations of breach of contract, breach of fiduciary duty, unsuitability, misrepresentation, and negligent supervision. This supposedly concerns Vitucci’s sale or recommendation of a variable annuity. To resolve these allegations without admitting liability, National Planning Corporation opted to settle with the client in January 2021 by making an $85,000 payment to the client.

Pat Vitucci Allegedly Sells Unsuitable Variable Annuity To National Planning Corporation Client

In the third dispute about Pat Vitucci, a client of National Planning Corporation complains about an annuity sale. Supposedly, the client experienced damages by investing in an unsuitable variable annuity. Typically, suitability concerns an investor’s financial needs, risk tolerance, investment objectives, and more. In this case, National Planning Corporation denied the investor’s allegations.

National Planning Corporation Client Makes Accusations Of Poor Performance, Misrepresentation

Evidently, a fourth client of National Planning Corporation took issue with Pat Vitucci’s annuity sales. Mainly, the client contends that Vitucci caused them to experience poor performance and charged excessive fees. Supposedly, Vitucci misrepresented information relating to the annuity. Allegedly, the client should not have invested in the product. However, National Planning Corporation denied the client’s claim.

Concerns About Pat Vitucci Identified In Prior Disputes

Moreover, it appears that an AIG Financial Advisors client filed a FINRA Arbitration Claim in regard to Pat Vitucci’s variable annuity transactions. BrokerCheck shows that the client alleged breach of fiduciary duty relating to the annuity. This investor also alleges violation of the California Corporations Code. Not only that, but the securities broker purportedly engaged in churning. Evidently, AIG Financial Advisors settled this matter by making a $165,000 payment to the client.

Did You Lose Money By Investing Through Vitucci?

Did Pat Vitucci cause you to incur investment losses at National Planning Corporation? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for hundreds of United States investors who experienced damages from their financial advisors or securities brokers. Please note that Vitucci denies all allegations of his sales practice violations.