Investor Alleges Misrepresentation in Dispute with Angelo Anello

Angelo Anello (CRD #: 2835091), a broker registered with LPL Financial, is the subject of two pending investor disputes, according to his BrokerCheck record, accessed on May 26, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Disputes

On March 31, 2023, an investor filed a dispute alleging that Angelo Anello engaged in misrepresentation on March 29, 2023. The client also alleged poor performance in their account. They seek $84,538 in this pending dispute.

In another pending dispute, filed on March 21, 2023, an investor alleged that Angelo Anello recommended structured products that were unsuitable for the client’s risk tolerance between May 2021 and March 2023. The client seeks $100,000 in damages.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. Misrepresenting an investment’s fees, risks, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles contain information such as investors’ age, tax status, and financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

What are Structured Products?

Structured products are a type of financial product that combine the features of a bond with a derivative component, e.g. swaps, futures, or options. The returns investors receive depend on the performance of this derivative component.

The complexity of structured products makes it especially important for investors to understand their features and risks before buying in.

Background Information

Angelo Anello 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Angelo Anello is a registered broker in 21 states and a registered investment adviser in Massachusetts.

He has also worked for the following firms:

• Citigroup Global Markets (CRD#:7059)
• Banc of America Investment Services (CRD#:16361)
• Quick & Reilly (CRD#:11217)
• Dreyfus Service Corporation (CRD#:231)
• Salomon Smith Barney (CRD#:7059)

Kurta Law Can Help

If you worked with Angelo Anello 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.