Salvatore Bonetti Allegedly Recommended Overly Risky Investments

Salvatore Bonetti (CRD #: 4494241), a broker registered with Purshe Kaplan Sterling Investments, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 16, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On August 12, 2024, an investor alleged that Salvatore Bonetti recommended that he invest in aggressive stocks despite the investor’s conservative risk tolerance. The investor is seeking $130,000.

There are also two regulatory actions on his record. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Rule 2111 also requires brokers to consider the following investor characteristics: 

• Investment goals
• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Salvatore Bonetti has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 11 states and is a registered investment adviser in Maine and Texas. 

Salvatore Bonetti has registered with 11 firms. These are the five most recent: 

• Purshe Kaplan Sterling Investments (CRD #: 35747) 
• Insight Folios (CRD #: 174411) 
• MML Investors Services (CRD #: 10409) 
• Baystate Wealth Management (CRD #: 151664) 
• MSI Financial Services (CRD #: 14251) 

Kurta Law Can Help 

If you worked with Salvatore Bonetti and you 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.