Our firm is investigating Creand Securities broker and financial advisor Javier Adolfo Naselli (CRD# 2425401) of Miami, Florida, for potential investment-related misconduct.
Financial Advisor Javier Adolfo Naselli’s Career History
Javier Adolfo Naselli began working in the securities industry in 1993. He has been registered as a broker with Creand Securities since August 7, 2025, and works from the firm’s Miami, Florida office. His BrokerCheck report also states that he serves as an investment adviser representative of affiliated investment advisory firm Creand Management.
Naselli’s brokerage and investment adviser registrations include:
- Merrill Lynch, Pierce, Fenner & Smith Incorporated from December 1993 to March 2000
- Dean Witter Reynolds Inc. from March 2000 to April 2000
- Morgan Stanley DW Inc. from June 2000 to December 2005
- Credit Suisse Securities (USA) LLC from December 2005 to July 2011
- UBS Financial Services Inc. from June 2011 to July 2024
- Creand Securities from August 2025 to the present
Naselli was reportedly unemployed from June 2024 through July 2025. He is currently registered through two self-regulatory organizations and licensed as a securities agent in Florida and Texas. He has passed three general industry or product examinations and two state securities law examinations.
Javier Adolfo Naselli Fraud Allegations and Investor Complaints Explained
Javier Adolfo Naselli’s FINRA BrokerCheck report contains four customer-dispute disclosures. FINRA presently categorizes two disputes as pending and two as final. The most recent pending arbitration alleges that Naselli implemented an illicit and unsuitable selling-away scheme involving a proposed biorefinery investment in Uruguay.
These customer allegations are not equivalent to findings of wrongdoing. Pending claims may ultimately be withdrawn, dismissed, settled, or decided in favor of either party.
Pending 2026 FINRA Arbitration Alleging a $5 Million Selling-Away Scheme
In June 2026, customers filed a FINRA arbitration alleging that Naselli implemented an illicit and unsuitable selling-away scheme to invest in a biorefinery in Uruguay. The alleged conduct reportedly occurred between 2022 and 2023 while Naselli was associated with UBS Financial Services Inc.
The claim identifies the product or activity as “selling away” and alleges damages of $5 million. The arbitration was filed on June 4, 2026, under FINRA docket number 26-01261. The matter remains pending, and Naselli’s BrokerCheck report does not identify any settlement, award, or individual contribution.
Selling away generally involves a broker’s participation in a securities transaction outside the regular scope of the broker’s firm, potentially without providing the firm with the required notice or obtaining its approval. The pending arbitration has not established that Naselli engaged in such conduct.
Pending Merrill Lynch Complaint Alleging Churning and Unsuitable Investments
Naselli’s BrokerCheck report also identifies an older customer dispute involving his former firm, Merrill Lynch, Pierce, Fenner & Smith Incorporated. The report contains separate versions submitted by the firm and Naselli.
According to the firm-reported version, the customer alleged that the account was managed outside the customer’s investment profile and involved churning and unsuitable investments. The investments were identified as technology equity and debt mutual funds. The firm reported alleged damages of $1 million and a complaint-received date of March 11, 2002.
The broker-reported version states that the customer alleged that the account was managed outside the customer’s profile and generated excessive commissions. This version reports alleged damages of $218,000 and a complaint-received date of January 8, 2002.
FINRA’s current report categorizes this disclosure as pending. However, the report does not provide an arbitration docket number, settlement amount, disposition date, or explanation concerning the matter’s status more than two decades after it was reported.
UBS Complaint Alleging Unsuitable Equity Investments Denied in 2020
UBS received a customer complaint against Naselli on June 10, 2020. The customer alleged that instructions to make investment decisions supported by a wise, reasonable, reliable, and sound plan were not followed. The customer also alleged that the equity investments were unsuitable.
The alleged activity occurred between November 6, 2015, and June 10, 2020. Although the report lists the damages field as $0, it explains that the customer estimated the alleged damages to exceed $5,000.
UBS denied the complaint on July 30, 2020. Naselli also denied the allegations, stating that the customer understood the investment risks, approved the orders, and made many of the investment decisions. Naselli further stated that the customer’s Hertz investment represented only a small portion of the overall portfolio. No settlement or payment is reported.
Morgan Stanley Corporate-Bond Complaint Closed Without Action
Morgan Stanley DW Inc. received a customer complaint involving Naselli on January 2, 2003. The customer alleged that corporate bonds declined in value and claimed $68,000 in damages.
The firm-reported portion of the disclosure states that the complaint was closed without action on January 5, 2006. No settlement amount or individual contribution is reported.
Naselli’s statement asserts that Morgan Stanley offered the bonds through its system, that the customers wanted the bonds’ 12% yield, and that the bonds subsequently declined in value. Although the broker-reported portion retained a “pending” designation, FINRA’s disclosure matrix and the firm-reported disposition categorize the matter as final and closed without action.
Summary of Javier Adolfo Naselli’s FINRA Disclosures
- Action: 2026 FINRA arbitration alleging an illicit and unsuitable selling-away scheme involving a biorefinery in Uruguay
Alleged damages: $5 million
Disposition: Pending - Action: Merrill Lynch customer dispute alleging churning, unsuitability, an out-of-profile investment strategy, and excessive commissions involving technology equity and debt mutual funds
Alleged damages: $1 million in the firm-reported version and $218,000 in the broker-reported version
Disposition: Listed by FINRA as pending - Action: UBS customer complaint alleging that investment instructions were not followed and that equity investments were unsuitable
Alleged damages: Estimated to exceed $5,000
Disposition: Denied on July 30, 2020 - Action: Morgan Stanley customer complaint concerning losses in corporate bonds offering a reported 12% yield
Alleged damages: $68,000
Disposition: Closed without action on January 5, 2006
Naselli’s disclosure history includes allegations involving selling away, unsuitable investment recommendations, churning, excessive commissions, investments outside a customer’s risk profile, and losses in corporate bonds. Investors who invested with Naselli in private ventures, overseas projects, technology-focused mutual funds, corporate bonds, or other investments that did not correspond with their stated objectives may have grounds to request an independent review of their accounts. To obtain a copy of Javier Adolfo Naselli’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 3280 governs private securities transactions by associated persons. Before participating in a private securities transaction, a broker must provide written notice to the employing brokerage firm describing the proposed transaction and the broker’s role. When the broker expects to receive compensation, the firm must approve or disapprove the transaction in writing, and an approved transaction must be recorded and supervised by the firm. This rule would be directly relevant if the alleged Uruguay biorefinery investment was a securities transaction conducted outside UBS and Naselli participated without satisfying the required notice-and-approval procedures. The pending complaint has not established that a Rule 3280 violation occurred.
FINRA Rule 2111 requires a broker to have a reasonable basis for believing that a recommended security or investment strategy is suitable for the customer based on the customer’s investment profile. The rule is relevant to the UBS complaint involving allegedly unsuitable equity investments between 2015 and June 2020. The older Merrill Lynch allegations occurred before Rule 2111 became effective and would have been evaluated under the suitability standards then in effect. A denied complaint or pending dispute does not, by itself, establish a violation of the suitability rule.
FINRA Rule 2010 requires FINRA members and their associated persons to observe high standards of commercial honor and just and equitable principles of trade. Alleged participation in an undisclosed selling-away transaction, excessive trading intended to generate commissions, or recommendations inconsistent with a customer’s stated profile could implicate this ethical standard if the underlying conduct were proven. Naselli’s pending customer disputes remain allegations and have not resulted in reported findings that he violated Rule 2010.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.
