Gregory Vassallo Involved in a Variable Annuity Dispute

Gregory Vassallo (CRD #: 1869805), a broker registered with Equitable Advisors, is facing an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 20, 2024. Keep reading for more information. 

Investor Allegations 

On December 10, 2023, an investor alleged that Gregory Vassalo recommended a variable annuity that was not suitable. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

What is a Variable Annuity?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Gregory Vassallo has passed the following exams:

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Principal Examination 
• Series 26 Investment Company Products/Variable Contracts Principal Examination 

He is a registered broker in 14 states and is a registered investment adviser in 12 states. 

Kurta Law Can Help 

If you have worked with Gregory Vassallo and have concerns about your investments, do not hesitate to contact us 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 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.