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Were You the Victim of LPL Financial LLC Broker Cynthia Giovacchino

Posted on Tuesday, November 23rd, 2021 at 12:44 am    

LPL Financial LLC

Were you the victim of LPL Financial LLC broker Cynthia Giovacchino (CRD# 3274194)? Cynthia Giovacchino has been registered with LPL Financial LLC in Ansonia, Connecticut since 2011. 

Cynthia Giovacchino Faces Suitability Complaints

Cynthia Giovacchino has been the subject of four customer complaints between 2018 and 2021, according to her CRD report:

September 2021. “Customer alleges that between 2012 and 2015 representative made unsuitable investment recommendations in high-commission, illiquid alternative investments that were not appropriate for his investment objectives.” The case is currently pending. The complaint took place while Cynthia Giovacchino was registered with LPL Financial LLC and was regarding real estate securities and business development companies (BDCs).

January 2020. “The customer alleges that the advisor recommended REIT investments which were unsuitable, that the investment risks of REITs were not adequately disclosed, and that inaccurate information regarding net worth and liquid net worth were entered on REIT account documentation after the customer signed said documentation.” The customer is seeking $63,713.96 in damages and the case is currently pending. The complaint took place while Cynthia Giovacchino was registered with LPL Financial LLC. 

January 2020. “The customer alleges that the advisor recommended a variable annuity surrender and a subsequent REIT purchase which were unsuitable, that the investment risks of REITs were not adequately disclosed, and that inaccurate information regarding net worth and liquid net worth were entered on REIT account documentation after the customer signed said documentation.” The customer sought $18,852 in damages and the case was settled for $35,693.30. The complaint took place while Cynthia Giovacchino was registered with LPL Financial LLC and it was regarding variable annuities and real estate securities. 

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, LPL Financial LLC may be liable for investment or other losses suffered by Cynthia Giovacchino’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.