Paul Nannicelli Suspended by FINRA
Paul Nannicelli (CRD #: 1089038) has been suspended by FINRA following allegations that he circumvented his firm’s procedures. These allegations appear on his BrokerCheck record, accessed on September 3, 2025. Keep reading if you have questions regarding his alleged conduct.
Regulatory Action
On June 30, 2025, Paul Nannicelli entered into an Acceptance, Waiver and Consent (AWC) agreement with FINRA in which he consented to sanctions and to the entry of findings that he circumvented his member firm’s procedures prohibiting registered representatives or their immediate family members from being named as a beneficiary on a customer’s account without the firm’s approval.
Paul Nannicelli allegedly helped a customer designate his own family members as beneficiaries of the customer’s accounts held at the firm. In September of 2020, following the death of a customer’s client, the customer’s wife allegedly submitted forms changing the beneficiaries to Paul Nannicelli’s wife and children.
The customer allegedly later complained about the beneficiary designations.
As part of the terms of the AWC, Paul Nannicelli consented to an eight-month suspension and a $5,000 fine. You can read a copy of the AWC here.
Employment Separation After Allegations
On August 17, 2023, Paul Nannicelli voluntarily resigned from LPL Financial following allegations regarding beneficiary designations that were not approved by the firm.
High Standards of Commercial Honor
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violating firm policies may also violate this rule.
Background Information
Paul Nannicelli has registered with the following firms:
- Ameriprise Financial Services (CRD #: 6363)
- LPL Financial (CRD #: 6413)
- American Express Financial Advisors (CRD #: 6363)
- IDS Financial Services (CRD #: 6320)
Kurta Law Can Help
If you worked with Paul Nannicelli 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 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.
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