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Donald Savaglia Embroiled in Investor Dispute 

Apr 12, 2022 Failure to Supervise

Donald Savaglia (CRD #:3106269), a broker and investment advisor registered with Woodbury Financial Services, is involved in an investor dispute, according to his BrokerCheck record accessed on April 5, 2022. 

Investor Allegations

On February 7, 2022, Donald Savaglia was named in an investor dispute alleging negligence, breach of fiduciary duty, material misrepresentations and omissions, and failure to supervise. The investor is seeking $100,000一the case is still pending.

Brokerage firms are required by FINRA Rule 3110 to properly supervise their brokers and financial advisers. 

FINRA Rule 3110 requires firms to:

  1. Maintain a supervisory system reasonably designed to achieve compliance with FINRA rules. 
  2. Designate a registered principal whose job it is to carry out supervisory responsibilities. 
  3. Make reasonable efforts to determine that all supervisory personnel are qualified, either by experience or training. 

Background Information

Donald Savaglia has passed the following exams:

  • Series 66 - Uniform Combined State 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
  • Series 24 - General Securities Principal Examination

Donald Savaglia is a registered broker in 19 states. He is also a registered investment advisor in Texas and Wisconsin.

Besides Woodbury Financial Services, Donald Savaglia has also worked with the following firms:

  • Cetera Advisor Networks (CRD#:13572)
  • Coordinated Capital Securities (CRD#:14762)
  • Equable Securities Corporation (CRD#:7405)
  • WMA Securities (CRD#:32625)

Kurta Law Can Help

If you have worked with Donald Savaglia and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.