Dominari Securities Brokerage Firm

Dominari Securities LLC is a brokerage firm and investment adviser firm headquartered in New York, New York. According to its website, the firm offers brokerage services as well as estate and tax planning.

Dominari Securities has also operated under the following names:

• Spectrum Financial Strategies
• Nutmeg Securities
• Metro Pension Analysts
• Futures Benefits
• Freedom Financial Services
• Fieldpoint Private Securities
• E-Benefits

Dominari Securities Disciplinary History and Investor Disputes

Investors should know that Dominari Securities employs brokers who have disciplinary histories. Kurta Law is aware of the following brokers who have investor disputes on their records, but there may be more. Ask your financial professional about their record or look it up yourself on BrokerCheck using their Central Registration Depository (CRD) number.

• One Dominari Securities broker has three investor disputes on his record. He allegedly engaged in unauthorized trading and recommended unsuitable investments. One of the disputes mentions “risky, illiquid REITs.”
• Another broker has faced allegations of unauthorized trading.
• Yet another Dominari Securities broker is facing allegations of unauthorized trading in a $1.4 million investor dispute.

Dominari Securities Brokerage and Advisors Fees

Make sure you ask your broker what fees you will pay, and whether a brokerage firm or an advisory account makes more sense for your situation.

Brokerage Firm Fees

• Transactions in brokerage accounts come with per-transaction fees.
• Commissions depend on the value of your trade: 1% for transactions under $100,000, and 0.8% for transactions over $100,000. The minimum brokerage commission is $75.
• Bonds and Treasury securities come with “mark-up” fees that may not be immediately obvious. These fees are included in the price of the bond. If you sell a bond to a Dominari Securities broker, the price they pay will be lower than the prevailing market value. This is called a “mark-down.”
• Options come with their own commissions.
• Roth IRAs and Traditional IRAs feature fees charged by an outside custodian.

Advisory Fees

• For advisory accounts, investors typically pay an annual fee that is calculated as a percentage of their assets under management (AUM).
• Other investors may choose to pay a performance-based fee.
• Advisory clients should note that they can negotiate their fees.

Conflicts of Interest

The following conflicts of interest are revealed in the Customer Relationship Summary (Form CRS), a form that brokerage firms are required to provide to their customers. Because brokers get paid a commission every time you place a trade, they have an incentive to encourage you to trade more often.

• Certain products come with commissions, giving brokers the incentive to recommend these products over others. These products include variable annuities and private placements.
• Private equity investments come with advisory fees. If you have private equity investments in cash awaiting a capital call, you could be charged an investment management fee on the cash and the full value of the private equity. Dominari Securities is obligated to correct this charge, but the correction may be delayed.

I Lost Money with Dominari Securities. Now What?

If you suffered investment losses that you believe may have been the result of brokerage misconduct, reach out to Kurta Law Firm today. Our attorneys offer free case evaluations and do not collect a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.