Joseph Trotta is the Subject of a Six-Figure Dispute

Joseph Trotta (CRD #: 449594), a broker registered with LPL Financial, is the subject of a new investor dispute. This disclosure appears on his BrokerCheck record, accessed on August 9, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On July 10, 2024, an investor alleged that he misrepresented the effect of withdrawals on his annuity’s guaranteed minimum benefit., causing the client to nearly exhaust his annuity account value and decreasing the client’s lifetime income payment. The investor is seeking $150,000. 

On March 11, 2021, investors alleged that the income benefit rider of a variable annuity was misrepresented. The investor sought the restoration of income payments and the dispute was settled for $108,115. 

Investors should know that there are three other investor disputes on Joseph Trotta’s record. 

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Background Information 

Joseph Trotta has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 1 Registered Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 19 states and is a registered investment adviser in Florida and Texas. 

During his 50 years of experience, Joseph Trotta has registered with nine firms. These are the five most recent: 

• LPL Financial (CRD #: 6413) 
• Raymond James Financial Services (CRD #: 6694) 
• IFG Network Securities (CRD #: 19948) 
• Investors Asset Management (CRD #: 7968)
• John Hancock Distributors (CRD #: 468) 

Kurta Law Can Help 

If you worked with Joseph Trotta 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.