Our firm is investigating Ameriprise Financial Services, LLC financial advisor and broker John James Pescatore (CRD# 2183696) of Boca Raton, Florida for potential investment-related misconduct.
Financial Advisor’s Career History
According to FINRA BrokerCheck, John James Pescatore’s registration history begins in October 1991 with Gibraltar Securities Co. in Florham Park, New Jersey. He was then registered with Tucker Anthony Incorporated in Boston, Massachusetts from September 1999 to March 2002, RBC Dain Rauscher Inc. in New York, New York and Philadelphia, Pennsylvania during 2002, J. B. Hanauer & Co. in Parsippany, New Jersey from 2002 into 2006, Oppenheimer & Co. Inc. in Boca Raton, Florida from January 2006 through October 2025, and Ameriprise Financial Services, LLC in Boca Raton, Florida beginning in October 2025.
John James Pescatore Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects three customer dispute disclosures for Pescatore: two older final matters and one pending FINRA arbitration. The current pending matter is tied to alleged conduct from 2020 while he was associated with Oppenheimer & Co. Inc., and it alleges $200,000 in damages.
Pending FINRA Arbitration Filed in 2025
A pending FINRA arbitration was filed on August 16, 2025 and received as a complaint on August 18, 2025. The claim alleges that Oppenheimer permitted an unauthorized change of beneficiary upon the death of a customer and asserts claims for breach of fiduciary duty, breach of contract, negligence, violation of FINRA rules, and negligent supervision. The alleged conduct period is listed as January 2020 through December 2020. FINRA lists alleged damages of $200,000, identifies the forum as FINRA, and gives Docket/Case No. 25-01702. BrokerCheck reports that Pescatore denied the allegations and stated that the relevant documents were signed and notarized.
1998 Complaint Alleging Misrepresentation and Unsuitability
BrokerCheck also lists a customer complaint received on October 23, 1998 while Pescatore was with Gibraltar Securities Company. The customer alleged misrepresentation and unsuitability of an investment in Alliance Entertainment Co. corporate bonds, with alleged damages of $25,000. The matter was reported as denied, with a status date of November 20, 1998. BrokerCheck does not list any settlement amount or individual contribution.
1998 Complaint Alleging Misrepresentation and Failure to Follow Instructions
A second Gibraltar Securities Co. customer complaint was received on August 26, 1998. That customer alleged misrepresentation and failure to follow instructions involving Alliance Entertainment corporate bonds, with alleged damages of $20,000. BrokerCheck lists the disposition as Closed/No Action and does not report a settlement amount or individual contribution.
Disclosure Summary
- 08/16/2025 filing / 08/18/2025 complaint received — Oppenheimer & Co. Inc. — alleged unauthorized change of beneficiary, breach of fiduciary duty, breach of contract, negligence, violation of FINRA rules, and negligent supervision — alleged damages: $200,000 — forum: FINRA — docket: 25-01702 — disposition: Pending.
- 10/23/1998 complaint received — Gibraltar Securities Company — alleged misrepresentation and unsuitability involving Alliance Entertainment Co. corporate bonds — alleged damages: $25,000 — disposition: Denied — status date: 11/20/1998.
- 08/26/1998 complaint received — Gibraltar Securities Co. — alleged misrepresentation and failure to follow instructions involving Alliance Entertainment corporate bonds — alleged damages: $20,000 — disposition: Closed/No Action.
Investors reviewing these disclosures should note that a pending arbitration contains allegations that have not been proven, while the older 1998 matters were not resolved in the customer’s favor. Even so, repeated disclosure events can be important when evaluating whether a broker’s history warrants closer scrutiny. To obtain a copy of John James Pescatore’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010
FINRA Rule 2010 requires member firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. In the context of the complaints above, allegations of misrepresentation, failure to follow instructions, or an improper beneficiary change would be the type of conduct that can raise Rule 2010 issues if the facts show the customer was misled or the account was handled improperly. This is context for the allegations, not a finding that Pescatore violated the rule.
FINRA Rule 2111
FINRA Rule 2111 is FINRA’s suitability rule. It requires a broker to have a reasonable basis to believe that a recommended investment or strategy is suitable for the customer based on that customer’s profile, objectives, and risk tolerance. That rule is especially relevant to the 1998 complaint alleging unsuitability of Alliance Entertainment Co. corporate bonds, because an unsuitable bond recommendation is the classic type of allegation analyzed under Rule 2111.
FINRA Rule 3110
FINRA Rule 3110 requires member firms to establish and maintain a supervisory system reasonably designed to achieve compliance with securities laws and FINRA rules. The pending 2025 arbitration expressly alleges negligent supervision in connection with an unauthorized beneficiary change, so Rule 3110 is directly relevant to whether the firm’s review procedures, documentation controls, and oversight were adequate. Although the rule primarily applies to the firm’s supervisory system, it is often central to investor claims arising from disputed account changes and internal control failures.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
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