The investment loss recovery lawyers at Soreide Law Group have come across alarming information in regard to securities broker Robert Michael Gianchiglia (CRD#: 2117250, Worcester, Massachusetts). Namely, the securities broker, who joined securities firm UBS Financial Services in 2017 and who used to work for Ameritas Investment Corp from 2005 until 2017, has six investor disputes listed on his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report. Specifically, these investor disputes indicate that Gianchiglia misrepresented private placements which might include DPPs, LPs, REITs, BDCs and other investments and that Gianchiglia violated a fiduciary responsibility to his clients, needlessly causing their losses. Here’s more on the broker.
Ameritas Investment Corp Client Indicates That Robert Gianchiglia Misrepresented Private Placements
Namely, on November 19, 2019, a client of Ameritas Investment Corp brought a FINRA Arbitration Claim under Case #: 19-03388. Apparently, Robert Gianchiglia misrepresented facts which might have included terms and conditions or performance-related information about private placements when he sold those investments to the client. It seems that the client might have invested because of misleading or false comments by Gianchiglia in connection with the private placements. For this reason, the client demanded $200,000 in this ongoing matter.
Gianchiglia Supposedly Sells Unsuitable Investments To Ameritas Investment Corp Client
Evidently, a second Ameritas Investment Corp client took aim at Robert Gianchiglia in filing FINRA Arbitration Claim #: 17-00693. In this Statement of Claim dated March 13, 2017, the client indicated that Gianchiglia was first and foremost negligent with sales of DPP or LP interests. Supposedly, Gianchiglia failed to place the client’s interests before his own, breaching a fiduciary duty. Also, the client suggested that Gianchiglia made unsuitable trades. Ameritas Investment Corp allegedly failed to supervise Gianchiglia as well. As it turns out, Ameritas settled this matter by paying the client $45,000 on October 15, 2018.
Ameritas Client Suggests Robert Gianchiglia Made Negligent Sales, Breached Fiduciary Duty
Apparently, FINRA BrokerCheck also shows that a client who held accounts at Ameritas investment Corp and Investors Capital Corp brought a FINRA Arbitration Claim #: 14-03241 in 2014 with something to say about Robert Gianchiglia. Specifically, the client argued that Gianchiglia’s sales of DPPs or LPs reflected negligence on his part. It seems that these investments were unsuitable for the client because of the client’s investment profile which consists of things like risk tolerance, objectives and needs. In addition, the client suggested that Gianchiglia was in breach of contract and breach of fiduciary duty with these alternative investment sales. However, the Hearing Panel dismissed this matter in 2015.
Losses From Ameritas Investment Corp Broker Gianchiglia?
Have you experienced losses by investing with Robert Gianchiglia? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers and financial advisors.