Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker JR Richard Allen Ceffalio Jr. (also known as Rich Ceffalio) [CRD: 2619565, Arlington Heights, Illinois], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Richard Ceffalio worked for LPL Financial LLC from November 15, 2019, to July 1, 2024, and for Wells Fargo Clearing Services LLC from November 2, 2012, to December 6, 2019. Below, you’ll find a summary of the securities broker’s disclosures.
Particularly, on May 27, 2024, an LPL Financial LLC client filed Civil Action No. 24-CV-04322 about Rich Ceffalio. Mainly, the client alleged that Ceffalio forged their signatures on a credit agreement in 2022. Supposedly, the securities broker also relocated the client's funds to a place where the client couldn't control them. As a result, the client requested $3,530,379.93 in compensation from LPL Financial LLC or Ceffalio. This civil suit is ongoing.
On May 31, 2024, LPL Financial LLC disaffiliated from Ceffalio. Evidently LPL Financial LLC alleged that Ceffalio solicited a loan from a client without getting approval from the firm. The brokerage firm also indicated that Ceffalio submitted erroneous trade corrections.
Specifically, on May 31, 2024, a Wells Fargo Clearing Services LLC client filed FINRA Arbitration No. 24-01188 about Rich Ceffalio. Supposedly, Ceffalio made unsuitable recommendations. Because of this, the client's account generated losses. For this reason, the client requested compensation from Wells Fargo Clearing Services LLC or Ceffalio. Evidently, this arbitration is pending a resolution.
In addition, on July 21, 2023, clients of NewEdge Advisors, Wells Fargo Clearing Services, and LPL Financial complained about Rich Ceffalio. Mainly, the clients alleged misinformation about variable annuities and forgery of documents. As a result, the clients asked for compensatory damages. This matter is awaiting a resolution.
Particularly, on January 31, 2000, an AG Edwards Sons Inc. client filed a complaint about Richard Ceffalio. Notably, the client alleged that Ceffalio mismanaged their investment account and was negligent. Because of this, the client allegedly sustained damages by investing in stocks. Consequently, the client requested compensation from AG Edwards Sons Inc. or Ceffalio.
Have you experienced losses due to financial advisor / securities broker Rich Ceffalio? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer about a possible recovery. Soreide Law Group has recovered losses for hundreds of investors throughout the United States, works on a contingency fee basis, and advances all costs. Ceffalio and brokerage firms Ceffalio worked for deny accusations of sales practice violations.
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