Matthew Alfenso Gimmelli (CRD #2740441) Has Customer Dispute Disclosures on FINRA BrokerCheck

Matthew Alfenso Gimmelli (CRD #2740441) is a broker with customer dispute disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on May 23, 2026. It reflects two customer disputes. If you invested with Matthew Gimmelli and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Matthew Gimmelli’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:

On March 25, 2026, a customer alleged that fees were misrepresented. The customer also challenged a recommendation to open a Morgan Stanley managed account. The customer said it was not in their best interest. Matthew Gimmelli FINRA BrokerCheck lists the product as managed/wrap accounts. The complaint is pending. BrokerCheck lists the damages as unspecified.

On March 27, 2009, a customer alleged that investments were inappropriate for her risk tolerance during 2008 and 2009. The customer sought $47,393 in damages. Matthew Gimmelli FINRA BrokerCheck lists the product as a managed account. Citigroup Global Markets Inc. denied the claim on October 1, 2009. The firm and broker statements both say the claim was denied.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for each recommendation. The recommendation should fit the customer’s profile. That profile includes risk tolerance, time horizon, and liquidity needs. Customer disputes may question whether an account strategy matched those factors.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires firms and associated persons to observe high standards of commercial honor. It also requires just and equitable principles of trade. Disputes about fees or account recommendations may raise fair-dealing concerns.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Matthew Gimmelli:

Is currently registered with Morgan Stanley.

Has passed the Securities Industry Essentials (SIE) exam. Matthew Gimmelli has passed Series 31, Series 7, and Series 6. He has also passed Series 65 and Series 63.

Was previously registered with UBS Financial Services Inc. His prior firms also include Citigroup Global Markets Inc., Vanguard Marketing Corporation, and Fortis Investors, Inc.

Kurta Law Can Help

If you have worked with Matthew Gimmelli and have concerns about his activity, Kurta Law may be able to help. The firm can help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors. The firm helps hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts. Counsel can also explain possible next steps.