Former Royal Alliance Associates, Inc. broker Frank Mastrosimone (CRD# 322615) faces a customer complaint regarding investment losses. Mastrosimone has been registered with Pruco Securities, LLC in Basking Ridge, New Jersey since January 2020 and with Prudential Financial Planning Services in Basking Ridge, New Jersey since February 2020. Previously, Mastrosimone was registered with Royal Alliance Associates, Inc. in West Orange, New Jersey from 2005 to 2019.
Mastrosimone has been the subject of one customer complaint, according to his CRD report:
March 2020. “It is alleged that private investment fund was inappropriate for client.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint was regarding a private fund and took place while Mastrosimone was registered with Royal Alliance Associates, Inc.
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, Pruco Securities, LLC may be liable for investment or other losses suffered by Mastrosimone’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.
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