Were you the victim of former LPL Financial LLC broker Cynthia Giovacchino (CRD# 3274194)? Cynthia Giovacchino has been registered with Osaic Institutions, Inc. in Seymour, Connecticut, since 2023. He was registered with LPL Financial LLC in Ansonia, Connecticut, from 2012 to 2023. 

Cynthia Giovacchino Faces Suitability Complaints

She has been the subject of 12 customer complaints between 2018 and 2024, according to her CRD report:

September 2024. “Customer alleges that in May 2012 and December 2014 the representative recommended investments in two real estate investment trusts that were unsuitable for the customer’s investment profile and risk tolerance.” The customer is seeking $55,000 in damages. The complaint was regarding real estate investment trust (REIT) losses, and it took place while she was registered with LPL Financial LLC. 

August 2024. “Claimant alleges an alternative investment purchased in 2017 was illiquid and risky.” The customer is seeking $300,000 in damages. The complaint was regarding REIT losses, and it took place while she was registered with LPL Financial LLC.

May 2024. “Customer alleged unsuitability and misrepresentation of non-traded REIT and structured notes.” The case is currently pending. The complaint was regarding REIT losses, and it took place while she was registered with LPL Financial LLC.

January 2024. “Customer alleged misrepresentation of structure barrier note.” The case was settled for $10,673.97. The complaint was regarding structured product losses, and it took place while she was registered with LPL Financial LLC. 

January 2024. “Customer alleged misrepresentation and unsuitability.” The case was settled for $48,583. The complaint was regarding structured product and alternative investment losses, which occurred while she was registered with LPL Financial LLC. 

January 2024. “Customer alleged misrepresentation of REIT as 3 year term.” The case was settled for $13,500. The complaint was regarding REIT losses, and it took place while she was registered with LPL Financial LLC. 

December 2023. “Customer alleged unsuitable recommendation of structured note.” The case was settled for $55,435. The complaint was regarding REIT losses, and it took place while she was registered with LPL Financial LLC. 

December 2023. “Customer alleged structured note was misrepresented as safe investment.” The case was settled for $15,000. The complaint was regarding structured product losses, and it took place while she was registered with LPL Financial LLC. 

December 2023. “Customer alleged misrepresentation.” The case was settled for $70,000. The complaint was regarding structured product losses, and it took place while she was registered with LPL Financial LLC. 

August 2023. “Customer alleges that the advisor misrepresented that her market-linked notes were principally protected. Alleged Dates – 10/26/21-8/31/23.” The case was settled for $27,727.72. The complaint was regarding structured product losses, and it took place while she was registered with LPL Financial LLC. 

January 2022. “The customer alleges that in 2014 the advisor recommended a REIT investment that was not suitable.” The case was settled for $46,225.26.

September 2021. “Customer alleges that between 2012 and 2015 representative made unsuitable investment recommendations in high-commission, illiquid alternative investments that were not appropriate for his investment objectives.” The case was settled for $2,000.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, LPL Financial LLC may be liable for investment or other losses suffered by Cynthia Giovacchino’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.