Investors reportedly complained about securities broker Tony Alan Tolene [CRD: 5730068, Harrisburg, Pennsylvania], according to publicly available information reported on FINRA BrokerCheck. Tony Tolene worked for Infinity Financial Services from October 19, 2016 to June 27, 2025. Keep reading to know more about Tony Tolene’s disclosures and the nature of the client allegations brought against him.
Particularly, on May 2, 2025, an Infinity Financial Services client filed a complaint about Tony Tolene. Allegedly, Tolene mismanaged money, resulting in stock losses. Therefore, the client requested $100,000 in compensation from Infinity Financial Services or Tolene.
Tony Tolene Disclosed Misappropriation Allegations By Infinity Financial Services Client
Also, a client of Infinity Financial Services contested Tony Tolene’s sales practices, according to a complaint dated November 10, 2023. Supposedly, Tolene converted funds by withdrawing money without permission. It appears that Tolene allegedly caused the client to sustain damages. Therefore, the client sought compensation from Infinity Financial Services or Tolene in this matter.
Regulator Fined Tolene For Mismarking Trades And Misstatements
Additionally, on November 27, 2018, Financial Industry Regulatory Authority (FINRA) issued Case: 2016051834101 sanctioning Tony Tolene. Specifically, Tolene was suspended for 45 calendar days in all capacities and fined $4,000. Notably, FINRA alleged that Tolene mismarked trade tickets and made misstatements on a compliance form.
Between April and November 2015, while employed by LPL Financial LLC, Tolene inaccurately marked six solicited trades in five client accounts as “unsolicited.” These actions caused LPL Financial LLC to maintain inaccurate books and records, thereby violating FINRA Rules 4511 and 2010. Rule 4511 requires broker-dealers to make and preserve accurate books and records, while Rule 2010 mandates high ethical standards.
In addition, in 2016, Tolene falsely attested in an annual compliance certification form that he had not solicited clients to purchase unlisted or low-priced securities. Supposedly, he had solicited those investments on at least six occasions. This misstatement constituted a separate violation of FINRA Rule 2010.
Tolene agreed to a settlement via a Letter of Acceptance, Waiver and Consent (AWC), without admitting or denying the findings. The sanctions imposed became effective upon acceptance by FINRA.
Evidently, a client of PNC Investments contested Tony Tolene’s sales practices, according to a complaint. Allegedly, Tolene’s investment recommendations led to concerns about poor performance in investment accounts. Supposedly, Tolene caused the client to sustain damages in variable annuities and mutual funds. Therefore, PNC Investments opted to settle the matter on August 13, 2013, by compensating the client.
Do you need clarification on any investment losses relating to Tony Tolene? If so, reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney concerning a potential recovery. Soreide Law Group helps to recover losses for investors throughout the United States. Also, the firm takes cases on a contingency fee arrangement and advances the costs. Tolene and brokerage firms Tolene worked for deny allegations of sales practice violations.
