Investor Alert: Former Broker Brandon Spano Faces Serious Allegations – May Recover Investor Losses
Brandon V. Spano, also known as Brandon Spano (CRD #4601257), is the subject of a pending investor complaint alleging serious misconduct involving client funds. According to FINRA BrokerCheck, the complaint—filed in November 2023—accuses Spano of misappropriating $110,000 from a client while registered with Equitable Advisors, LLC. The client entrusted Spano with funds intended for investment, but the money was allegedly diverted for unauthorized purposes.
Employment and Regulatory Background
Brandon Spano entered the securities industry in 2003 and has worked for several major brokerage firms. Spano was most recently employed by MML Investors Services, LLC. FINRA records show that Spano is no longer registered with any FINRA member firm. His BrokerCheck file also lists a prior termination from NYLIFE Securities in 2013 following internal policy violations and a 2022 lien filed in New Jersey.
FINRA Action and Customer Complaint
FINRA’s investigation into Spano’s conduct follows a pattern seen in other disciplinary actions involving outside business activities and unapproved handling of client funds. Misappropriation or misuse of client assets is one of the most serious violations under FINRA rules and often results in a permanent bar from the securities industry. Investors should carefully review their accounts and communication records if they previously worked with Spano or any of his affiliated firms.
Protecting Yourself from Misconduct
Cases like this highlight the dangers of entrusting investment funds directly to advisers rather than through firm-approved accounts. FINRA rules require that all transactions be processed through a broker’s supervising firm to ensure transparency and investor protection.
If your broker suggested transferring funds for “outside” investments or made promises of higher returns without clear documentation, those may be red flags of potential fraud or breach of duty.
Goodman & Nekvasil, P.A. – Investor Recovery Attorneys
Goodman & Nekvasil, P.A., based in St. Petersburg, Florida, represents investors nationwide who have suffered financial losses due to broker misconduct, unsuitable recommendations, or misappropriation. The firm has recovered more than $500 million for victimized investors through FINRA arbitration and securities litigation.
If you suffered losses with Brandon Spano or another financial adviser, call (800) 500-4442 for a free consultation. There is no fee unless we recover money for you.
Investor Alert: Former Broker Brandon Spano Faces Serious Allegations – May Recover Investor Losses
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 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.
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 10/22/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.