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Investors Claim Amedeo Granata Sold Unsuitable Investments

Jun 3, 2022 Unsuitable Investments

Amedeo Granata (CRD #: 2644410), a broker registered with Hornor, Townsend & Kent, was the subject of a recent dispute, according to his BrokerCheck record, accessed on May 23, 2022. Read on if you have questions about Amedeo Granata’s conduct as a broker.

Investor Dispute

On February 22, 2022, multiple investors filed a dispute alleging that Amedeo Granata sold them unsuitable investments which were not aligned with their tax objectives. This dispute was denied by the firm.

That being said, investors should know that firms can deny disputes without any outside review. Investors can still pursue FINRA arbitration after a denial and potentially recover their losses.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account their clients’ financial goals when making investment recommendations. Brokers must tailor their recommendations to investors’ profiles, which contain the following investor characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investors will hold the investment)
  • Investing experience
  • Tax status

Investors who rely on brokers for recommendations can attempt to recover their losses through FINRA arbitration.

Background Information

Amedeo Granata has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

Amedeo Granata is a registered broker in five states and a registered investment adviser in New York.

He has also worked for the following firms:

  • AXA Advisors (CRD#:6627)
  • The Equitable Life Assurance Society of the United States (CRD#:4039)

Kurta Law Can Help

If you worked with Amedeo Granata and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.