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Investors Allege that Frank DePaola Failed to Disclose Fixed Annuity’s Surrender Fees

Sep 14, 2022 Investor Disputes

Frank DePaola (CRD #: 1253587), a broker registered with Securities America, allegedly omitted information about a fixed annuity, according to his BrokerCheck record, accessed on August 26, 2022. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On May 2, 2022, several investors filed a dispute alleging that Frank DePaola failed to disclose surrender fees related to the exchange of a fixed annuity. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent means of influencing investors’ decisions. This includes the misrepresentation or omission of material facts, such as an investment’s fees, limitations, or requirements.

Background Information

Frank DePaola has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Frank DePaola is a registered broker in 12 states.

He has also worked for the following firms:

  • Lincoln Financial Securities (CRD#:3870)
  • Horner, Townsend & Kent (CRD#:4031)
  • 1717 Capital Management Company (CRD#:4082)
  • Mony Securities Corporation (CRD#:4386)
  • Calvert Securities (CRD#:14035)
  • Integrated Resources Equity Corporation (CRD#:6403)

Kurta Law Can Help

If you worked with Frank DePaola 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.