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John Rotando Allegedly Misrepresented Terms of Annuity

John Rotando (CRD #: 2071444), a broker registered with Wells Fargo Clearing Services, allegedly misrepresented the terms of a client’s annuity, according to his BrokerCheck record, accessed on July 18, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On May 31, 2023, an investor alleged that John Rotando misrepresented the terms of an annuity’s income benefit between April 23, 2018, and May 10, 2023. The client seeks $58,826.10 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. Misrepresenting an investment’s limitations, fees, or other features violates this rule.

Background Information

John Rotando 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 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

John Rotando is a registered broker in 30 states and the District of Columbia. He is also a registered investment adviser in Connecticut and Texas.

He has also worked for the following firms:

  • Morgan Stanley (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • Banc of America Investment Services (CRD#:16361)
  • Quick & Reilly (CRD#:11217)
  • UBS Financial Services (CRD#:8174)
  • Robert Thomas Securities (CRD#:10147)

Kurta Law Can Help

If you worked with John Rotando and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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. 

 

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