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Who is Andrew Costa? | Andrew Costa Investigation

Andrew Montgomery Costa has been a registered broker with Madison Avenue Securities since 2017. He is a Managing Director & Co-Founder of  Global Wealth Management. According to FINRA’s BrokerCheck, he currently has 11 disclosures, including one pending customer dispute for unsuitable recommendations.

 

Peiffer Wolf is currently investigating claims against Andrew Montgomery Costa for his recommendation of NYC REIT and potentially other alternative investments.

 

If you are/were a client of Andrew Montgomery Costa, Contact Us Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.

Andrew Montgomery Costa | Global Wealth Management

 

Pitched as a way to provide investors with income and appreciation, ARC NYC REIT is promoted as “high-quality commercial real estate located within the five boroughs of New York City, particularly Manhattan.” Initially, NYC REIT was a non-traded REIT. Because it was not initially traded on an exchange, ARC NYC REIT was even less liquid than other REITs that trade on open exchanges. Investors believed that returns would be greater than 10% annually, but distributions stopped and there was a reverse stock split. To make matter worse, the initial public offering price was $25 per share, but that valuation has now plummeted below $12 per share.

 

According to FINRA’s BrokerCheck, Andrew Costa is the subject of 11 disclosures:

 

  • October 2020: Customer Dispute – Pending. Amount requested: $50,000. Allegations: “Claimants allege recommendations regarding investment into two REITs in 2015 were unsuitable.”
  • September 2020: Customer Dispute – Pending. Amount requested: $100,000. Allegations: “Unsuitable recommendations, breach of fiduciary duty, breach of contract and negligence.”
  • March 2020: Customer Dispute – Pending. Amount requested: $244,000.00. Allegations: “Unsuitable recommendations [REITs].”
  • February 2020: Customer Dispute – Pending.
  • September 2019: Customer Dispute – Settled for $4,000.00. Allegations: “Unsuitable investments [REITs].”
  • March 2019: Customer Dispute – Settled for $15,000.00.
  • October 2018: Customer Dispute – Settled for $15,000.00.
  • June 2018: Customer Dispute – Settled for $15,000.00.
  • March 2018: Customer Dispute – Settled for $10,000.00. Allegations: “Breach of fiduciary duty and negligence related to the recommendation of and sale of products at issue to the claimant”
  • February 2018: Customer Dispute – Settled for $175,000.00. Allegations: “Suitability issues with products.”
  • February 2018: Customer Dispute – Settled for $5,000.00. Allegations: “Advisor exposed claimant’s to unwanted and unreasonable risk.”

 

Prior to Madison Avenue Securities, Andrew Montgomery Costa was registered with G.F. Investment Services, LLC, and Costa Financial Services, Inc.

 

If you invested with Andrew Montgomery Costa of Global Wealth Management and Madison Avenue Securities, contact Peiffer Wolf  immediately for a FREE Consultation.

 

To review Andrew Costa’s BrokerCheck report, click here:

https://brokercheck.finra.org/individual/summary/4847063

*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)

Andrew Costa and the Global Wealth Management Investigation

Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

Based on our experience, we believe that there are more investors who have been the victims of Andrew Montgomery Costa’s alleged broker misconduct and investment fraud. If you invested with Andrew Montgomery Costa of Global Wealth Management, contact Peiffer Wolf  immediately for a FREE Consultation. 585-310-5140.

 

Contact Us Today | Free Consultations | 585-310-5140

 

We have represented thousands of victims of investment fraud, against financial institutions that failed to discharge their duties and protect the investing public. Each case is different and our past successes are not indicative of future results; we will be glad to review your case and advise you as to your options, at no charge.

 

If you believe you lost money because of investment fraud, it is important to take action. Contact Peiffer Wolf for a FREE Consultation by calling 585-310-5140 or by filling out an online Contact Form on this website. We can hear your situation and explore your legal options. There is no charge for this evaluation.

Get a FREE case Evaluation.

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Brokercheck®️ report: Andrew Costa

Information about this broker was obtained from FINRA’s BrokerCheck on January 5, 2021. You should always review the BrokerCheck report directly for the most updated information. If you believe that information on this page is incorrect, please contact us.

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