Were you the victim of Portsmouth Financial Services broker Mark D’Ercole (CRD# 820220)? He has been registered with Portsmouth Financial Services in San Francisco, California, from 2003 to 2022.
Mark D’Ercole Customer Complaints
He has been the subject of two customer complaints between 2018 and 2024, according to his CRD report:
July 2024. “The firm, Portsmouth Financial Services, was named as the respondent. Statement of claim cites that respondent failed to conduct reasonable due diligence, misrepresentation of facts, false statements and failure to supervise. Claims against rep include unsuitable investment recommendation.” The customer sought $590,000 in damages, and the case was settled for $301,343.17.
June 2018. “Plaintiff alleges that a “section 79 Plan” and whole life insurance policy sold to plaintiff was unsuitable.” The customer is seeking $593,000 in damages, and the case is currently pending.
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, Portsmouth Financial Services may be liable for investment or other losses suffered by Mark D’Ercole’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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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