Goodman and Nekvasil May Recover Investors Losses | Aldo Nestor Marchena (Aldo Marchena), Financial Advisor Suspended by FINRA
Aldo Marchena was licensed with Northeast Securities, Inc. from 2010 to 2014. Aldo Marchena was suspended from association with any FINRA member in any capacity for five months and fined $5,000.
According to FINRA, without admitting or denying the findings, Aldo Marchena consented to the sanctions and to the entry of findings that he engaged in an outside business activity without prior written notice to and receiving approval from his member firm. The findings stated that Aldo Marchena also made inaccurate statements on annual firm questionnaires.
FINRA found that Aldo Marchena formed ABC, LLC, which offered business consulting services in early 2011. Aldo Marchena orally requested permission from his member firm to refer Northeast Securities customers to ABC for business consulting purposes and for referrals from ABC for brokerage services. The firm denied the request. FINRA found that he continued his involvement with ABC.
Northeast Securities, Inc. reported a FINRA complaint (16-01918) that alleged breach of fiduciary responsibility by recommending high risk investments, settled for $30,000 on December 2, 2016. Northeast Securities, Inc. also reported a FINRA complaint (15-3116) that alleged unauthorized trading and unsuitable investment, settled for $45,000 on November 22, 2016.
Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments and has recovered more than $180 million dollars on behalf of victimized investors. We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives. All our cases are handled on a purely contingency fee basis.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.
If you incurred losses on your investment with Aldo Nestor Marchena, you may be able to recover your losses from Northeast Securities, Inc. This is because Northeast Securities, Inc. had a duty to supervise Aldo Nestor Marchena. If you would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.