John Corello Allegedly Recommended Unsuitable Investments

John Corello (CRD #: 1407750), a broker registered with Janney Montgomery Scott, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 19, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On December 4, 2023, an investor alleged that John Corello recommended the purchase of unsuitable securities in client’s accounts. The firm denied the dispute, but investors should know that firms can deny disputes without any external review. Investors can still recover their losses following a denial.

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 

John Corello has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 7 General Securities Representative Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in 41 states and D.C. He is a registered investment adviser in California, North Carolina, Ohio, Pennsylvania, and Texas. 

During his 38 years of experience, John Corello has registered with two firms: Janney Montgomery Scott (CRD #: 463) and Shearson Lehman Hutton (CRD #: 7506). 

Kurta Law Can Help 

If you have worked with John Corello and 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.