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Did National Securities Corporation Broker Frank Avallone Make Unsuitable Investment Recommendations?

Posted on Wednesday, July 1st, 2020 at 9:00 pm    

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Erez Law is currently investigating National Securities Corporation broker Frank Avallone (CRD# 4814368) regarding unsuitable investment recommendations. Avallone has been registered with National Securities Corporation in South Norwalk, Connecticut since 2015. 

Avallone has been the subject of four customer complaints between 2012 and 2020, according to his CRD report. Recent complaints are regarding: 

February 2020. “Suitability.” The customer is seeking $140,000 in damages and the case is currently pending. The complaint is regarding equity OTC. 

November 2019. “Suitability.” The customer is seeking $209,200 in damages and the case is currently pending. The complaint is regarding equity private placements. 

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, National Securities Corporation may be liable for investment or other losses suffered by Avallone’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.