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Investor Alleges Todd Scorzafava Recommended Unsuitable Account Conversion

Nov 4, 2022 Unsuitable Investments

Todd Scorzafava (CRD #: 3261329), a broker registered with LPL Financial, allegedly violated multiple FINRA rules, according to his BrokerCheck record, accessed on October 17, 2022. Investors may have also engaged his services through Wealthcare Advisory Partners. If you want to learn more about his conduct as a broker, read on.

Investor Disputes

On July 11, 2022, an investor alleged that Todd Scorzafava allegedly provided unsuitable investment advice and failed to disclose material elements of a recommended transaction. The client sought $45,000 and the dispute settled for $55,885.72.

In a dispute filed on June 3, 2022, an investor alleged that Todd Scorzafaba committed the following violations:

This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their recommendations of investments or investment strategies to their clients’ profiles. An investor’s profile describes their age, tax status, and other characteristics.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 5310

FINRA Rule 5310 requires brokers to execute trades promptly and according to investors’ instructions.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from conducting discretionary trading beyond discretionary accounts that are approved by both the firm and the client.

Background Information

Todd Scorzafava 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 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Todd Scorzafava is a registered broker in 24 states and a registered investment adviser in New Jersey and Texas.

He has also worked for the following firms:

  • M Holdings Securities (CRD#:43285)
  • EisnerAmper Wealth Management & Corporate Benefits (CRD#:121863)
  • Comprehensive Asset Management and Servicing (CRD#:43814)
  • Securities America (CRD#:10205)
  • AIG SunAmerica Capital Services (CRD#:13158)
  • Legg Mason Investors Services (CRD#:109064)
  • Citigroup Global Markets (CRD#:7059)
  • Prudential Securities (CRD#:7471)
  • HD Brous & Company (CRD#:22062)

Kurta Law Can Help

If you worked with Todd Scorzafava 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.