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Investor Claims Frank Mastrosimone Recommended Unsuitable Investment

Dec 15, 2021 Private Placements

Frank Mastrosimone (CRD #:322615), a broker registered with Pruco Securities, is involved in an investor dispute according to his BrokerCheck record, accessed on November 6, 2021. He is also an investment advisor registered with Prudential Financial Planning Services. Keep reading for more information. 

Investor Allegations 

On August 4, 2021, an investor alleged that Frank Mastrosimone recommended an unsuitable private investment fund. The damage amount requested is $100,000. The case is still pending.  

Private funds are always higher risk because they do not have to disclose financial information to the SEC. It is impossible to fully assess the risks associated with these types of funds. Generally speaking, brokers should only recommend private funds to accredited investors, who have enough wealth to comfortably sustain significant losses.  

It's important that the investment recommendations of a financial advisor match the investor’s profile. FINRA Rule 2111 has specific rules for determining this match. Investors determine suitability by reviewing an investor's individual profile which includes information such as the investor’s risk tolerance and financial goals. Registered financial advisors are legally liable if they provide an unsuitable investment recommendation or strategy that leads to losses.  

Frank Mastrosimone Background Information 

Frank Mastrosimone 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 1 - Registered Representative Examination 
  • Series 24 - General Securities Principal Examination 

 Frank Mastrosimone is a registered broker in three states. He is a registered investment adviser in New Jersey and New York. 

 Besides Pruco Securities and Prudential Financial Planning Services, Frank Mastrosimone has worked with the following firms:   

  • Royal Alliance Associates (CRD#: 23131) 
  • Financial Network Investment Corporation (CRD#: 13572) 
  • Pennsylvania Securities Company (CRD#:7667) 
  • Greentree Securities Corp. (CRD#: 7372) 
  • Bond, Richman & Co. (CRD#: 1270) 
  • Philips, Appel & Walden (CRD#: 659) 
  • Mayhill Agency (CRD#: 6237) 
  • Mayflower Securities Co (CRD#: 562)  

Kurta Law Can Help 

If you have worked with Frank Mastrosimone 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 helped investors 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. Reach out today to start the process to recover your investment losses.