DID THOMAS POVINELLI CAUSE YOU INVESTMENT LOSSES?
Thomas Povinelli of Royal Alliance Associates, Inc. Has 2 Customer Complaints For Alleged Broker Misconduct
Who is Thomas Povinelli of Royal Alliance Associates, Inc.?
Thomas Povinelli (CRD #1326492) who is currently registered with Royal Alliance Associates, Inc. and located in Old Greenwich, Connecticut is a subject of one of our many securities industry sales practice abuse investigations.
Thomas Povinelli has also been the subject of the FINRA investigation that was settled without admitting or denying the allegations that he completed and submitted inaccurate applications to purchase a variable annuity to avoid New York regulations. As a result, he was suspended by FINRA in all capacities for 30 days and fined $5, 000.
Thomas Povinelli Customer Complaints
Thomas Povinelli has been the subject of 2 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. One of Thomas Povinelli’s 2 customer complaints was settled in favor of investors. One of Thomas Povinelli’s customers’ complaints was denied and, to date, the customers have not taken any further action.
Allegations Against Thomas Povinelli
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Customer alleges Thomas Povinelli made unsuitable investment recommendation and complains that annuity contracts were issued in wrong state.
- Thomas Povinelli’s alleged unsuitable recommendations in high-risk investments.
Thomas Povinelli Red Flags & Your Rights As An Investor
Of course, Thomas Povinelli 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 Thomas Povinelli at Royal Alliance Associates, Inc. on alert to review carefully the activity and performance of their accounts and question whether Thomas Povinelli has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Royal Alliance Associates, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Royal Alliance Associates, Inc. Due To Thomas Povinelli
If you have questions about Royal Alliance Associates, Inc. and/or Thomas Povinelli 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.