Glenn Fasani Involved in Investor Dispute Alleging Misrepresentation

Glenn Fasani (CRD #:2832856), a broker and investment advisor registered with Ameriprise Financial Services, is involved in an investor dispute, according to his BrokerCheck record accessed on March 2, 2022. 

According to the allegations filed on November 21, 2021, Glenn Fasani misrepresented the terms of a REIT sold in 2015. The case is still pending.

A real estate investment trust (REIT) is an entity that holds a portfolio of income-producing real estate properties. REITs can be risky investments and may be unsuitable due to their illiquid nature. Misrepresenting or failing to disclose these risks may result in a viable securities arbitration claim for damages.

FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or persuading individuals to purchase securities with false statements about their potential benefits. 

Denied Dispute

On October 24, 2021, a dispute was filed against Glenn Fasani, alleging he sold an unsuitable variable annuity in 2018. The dispute was denied, but investors should know that a denial does not necessarily mean the end of the dispute. You can still seek FINRA arbitration and recover your losses following a denial. 

Variable annuities come with different fees, and the contracts are often too complex for investors (and brokers) to understand. The fees can negate any benefit that the variable annuity supposedly offers. This makes most variable annuities unsuitable for most investors. 

FINRA Rule 2111 requires registered financial advisors to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs.

Background Information

Glenn Fasani has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 65 – Uniform Investment Adviser Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Glenn Fasani is a registered broker in seven states and a registered investment advisor in  Florida.

Besides  Ameriprise Financial Services, Glenn Fasani has also worked with AXA Advisors (CRD#:6627) and The Equitable Life Assurance Society Of The United States (CRD#:4039).

Kurta Law Can Help

If you have worked with Glenn Fasani 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.