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Jose Candelario Padilla Formerly With Nationwide Planning Associates Inc. Has 45 Customer Complaints For Alleged Broker Misconduct

Who is Jose Candelario Padilla formerly with Nationwide Planning Associates Inc.?

Jose Candelario Padilla

Jose Candelario Padilla (CRD #4847560) who was formerly registered with Nationwide Planning Associates Inc. and located in Hato Rey, Puerto Rico, is a subject of one of our many securities industry sales practice abuse investigations. Prior to Nationwide Planning Associates Inc., Jose Candelario Padilla was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Jose Candelario Padilla has had his own regulatory problems. In March this year, the advisor consented to the sanctions and the entry of findings that he willfully violated the care obligation of Regulation Best Interest in connection with the purchase of leveraged and inverse exchange-traded funds without having a sufficient understanding of the risks and features associated with the products. Consequently, he was suspended and all capacities for 3 months, fined $2500, and ordered to pay restitution in the amount of $26,422.

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Jose Candelario Padilla Customer Complaints

Jose Candelario Padilla has been the subject of 43 customer complaints that we know about seeking to recover investment losses. Twenty-five of the customer complaints were settled by his former employer, Oriental Financial Services. The advisor’s’ former employers also denied 5 customer complaints and the investors took no further action. There are currently 15 customer complaints filed against Nationwide Planning Associates or Oriental Financial Services.

Allegations Against Jose Candelario Padilla

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Misrepresentations, breach of fiduciary duty, breach of contract, unsuitable investment recommendations related to Puerto Rico mutual funds.
  • Unsuitable investment recommendations to invest in Puerto Rico closed-end funds.
  • Misrepresentation of Puerto Rico closed-end funds in safe investments.
  • Mismanagement of customer account.
  • Unauthorized trading.
  • Failure to act in customer’s best interest.
  • Constructive fraud.
  • Unsuitable recommendation of option transactions.
  • Misrepresentations related to Puerto Rico Bonds.
  • Overconcentration of Puerto Rico closed-end funds and municipal bonds and customer’s account.

Jose Candelario Padilla Red Flags & Your Rights As An Investor

Of course, Jose Candelario Padilla did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Jose Candelario Padilla at Nationwide Planning Associates Inc. on alert to review carefully the activity and performance of their accounts and question whether Jose Candelario Padilla has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Nationwide Planning Associates Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

Did You Lose Money Because of Broker Misconduct?

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If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.

Need Legal Help? Let’s talk.

or, give us a ring at 561-338-0037.

File A Claim To Recover Your Investment Losses At Nationwide Planning Associates Inc. Due To Jose Candelario Padilla

If you have questions about Nationwide Planning Associates Inc. and/or Jose Candelario Padilla and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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