According to FINRA BrokerCheck, two customers of James Ciocia made complaints alleging unsuitable investments. The first claim was filed in August 2021, where the customer claimed that Ciocia’s recommended investment strategy was unsuitable. The product at issue related to common and preferred stock. The customer settled the claim for $60,000.
The second customer dispute related to an unsuitable private placement. The claim was filed in May 2022, and the customer settled for $22,000.
Brokerage firms like National Securities must only recommend suitable investments to their customers. Unsuitable investment advice is an investment recommendation that is inappropriate with an investor’s investment objectives, risk tolerance and investment time horizon. If you suffered losses from unsuitable investment recommendations from James Ciocia at National Securities, please contact us today.
According to FINRA BrokerCheck, Ciocia was registered as a broker for National Securities Corporation from November 2013 to December 2020. He also previously served as an investment adviser at National Asset Management, Inc. from May 2014 to December 2020.
He is currently registered as a broker with Cetera Financial Specialists, LLC and an investment adviser with Cetera Investment Services, LLC.
To review James Ciocia’s Brokercheck report, click here:
*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)
Based on our experience, we believe that some investors may have been recommended unsuitable investments by James Ciocia at National Securities Corporation. If you suffered investment losses with Mr. Ciocia through National Securities Corporation, Contact Peiffer Wolf immediately for a FREE Consultation 585-310-5140.
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating claims against National Securities Corporation and its former broker James Ciocia. If you’ve invested with Ciocia through National Securities Corporation, Contact Us by calling 585-310-5140 or by filling out an online Contact Form for a FREE Consultation.
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