Erez Law is currently investigating National Securities Corporation broker Frank Avallone (CRD# 4814368) regarding unsuitable investment recommendations. He has been registered with National Securities Corporation in South Norwalk, Connecticut, since 2015.
Frank Avallone Customer Complaints
He has been the subject of four customer complaints between 2023 and 2022, one of which was closed without action, according to his CRD report. Recent complaints are regarding:
November 2022. “Client claimed unsuitability, conflict of interest, failure to supervise, breach of duty of loyalty, and Respondeat Superior.” The customer sought $2,707,818 in damages, and the case was settled for $135,000. The complaint was regarding private placement investment losses, and it took place while he was registered with National Securities Corporation.
July 2022. “Suitability, Breach of Fiduciary Duty, Failure to Supervise, Breach of Contract, Fraud and Violation of FINRA Rule 2210.” The case was settled for $30,000. The complaint was regarding alternative investment losses, and it took place while he was registered with National Securities Corporation.
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, National Securities Corporation may be liable for investment or other losses suffered by Frank Avallone’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.
"*" indicates required fields
