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Allied Millennial Partners, LLC Broker Matthew Platnico Recovery Loss Options

Posted on Monday, November 9th, 2020 at 11:10 pm    

Allied Millennial Partners

Erez Law is interested in speaking with investors who may have suffered losses due to investments with Allied Millennial Partners, LLC broker Matthew Platnico (CRD# 2102086) regarding investment losses. Platnico has been registered with Allied Millennial Partners, LLC in New York, New York since 2019. Previously, Platnico was registered with Arete Wealth Management, LLC in New York, New York from February to May 2019 and with Oppenheimer & Co. Inc. in New York, New York from 2005 to 2019.

Platnico has been the subject of three customer complaints between 2019 and 2020, according to his CRD report:

July 2020. “Claimant alleges representative engaged in unsuitable and unauthorized options trading in Claimant’s account.” The customer is seeking $1,460,000 in damages and the case is currently pending. The complaint was regarding index options and took place while Platnico was registered with Allied Millennial Partners, LLC.

February 2019. “Clients claimed they had not been contacted about closing out a short position, and the trade was therefore unauthorized. From 12/24/2018 to 12/24/18.” The case was settled for $95,690. The complaint was regarding options and took place while Patnico was registered with Oppenheimer & Co. Inc.

February 2019. “Client alleges that strategy being employed in his account was misrepresented to him and is unsuitable. Time period is 4/1/2018 – 12/31/2018.” The customer is seeking $265,627.73 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, Allied Millennial Partners, LLC may be liable for investment or other losses suffered by Platnico’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.