Giacomo Parente Allegedly Failed to Make REIT Disclosures

Giacomo Parente (CRD #: 4924478), a broker registered with Fidelity Brokerage Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 19, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On August 2, 2024, an investor alleged that Giacomo Parente failed to provide complete disclosures regarding a REIT purchase, including that the REIT’s management could discontinue dividends and share repurchases. The dispute was denied, but investors can still recover losses following a denial. 

What Are REITs?

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without being directly involved in property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are especially risky because they are not traded on the public exchange, making them difficult or impossible to sell. 

Background Information 

Giacomo Parente has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 66 Uniform Combined State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in ten states and D.C. He is a registered investment adviser in California and Texas. 

Giacomo Parente has registered with ten firms. These are the five most recent: 

• Fidelity Brokerage Services (CRD #: 7784) 
• Fidelity Personal and Workplace Advisors (CRD #: 288590) 
• Vanguard Marketing Corporation (CRD #: 7452) 
• Vanguard Advisers (CRD #: 106715) 
• JP Morgan Securities (CRD #: 79) 

Kurta Law Can Help 

If you worked with Giacomo Parente and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.