Goodman and Nekvasil May Recover Investors Losses | Matthew Maczko, Financial Advisor Barred by FINRA
FINRA reports that Matthew Maczko, was barred from the securities industry on February 9, 2017. FINRA reports Matthew Maczko consented to the sanctions and to the entry of findings that between January 2009 and April 2016, Matthew Maczko effected excessive trading transactions in four accounts of a customer, who is now 93 years old.
FINRA found that Matthew Maczko effectively controlled these accounts, which had an average aggregate value of $3 million. Matthew Maczko effected transactions in these accounts that generated approximately $581,650 in commissions, $84,270 in other fees, and approximately $397,000 in trading losses. FINRA reports that this level of trading was unsuitable for the customer given her investment profile; including her age, risk tolerance, and income needs.
FINRA’S Broker Check shows Wells Fargo Advisors reported a customer complaint alleging unauthorized trades and was unaware of the amount of commissions that she had incurred from January 2012 through January 2016, settled for $1 million.
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 Matthew Maczko, you may be able to recover your losses from Wells Fargo Advisors, LLC. This is because Wells Fargo Advisors, LLC, had a duty to supervise Matthew Maczko. 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.