Goodman & Nekvasil P.A., May Recover Investor Losses – Nick Anthony Pietrocola (Nick Pietrocola) Suspended from Securities Industry and Fired by Morgan Stanley Smith Barney
From June 2009 until Nick Pietrocola’s firing in July 2012, Nick Pietrocola was licensed with Morgan Stanley Smith Barney. Nick Pietrocola is now licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Nick Pietrocola was fired by Morgan Stanley Smith Barney on June 27, 2012. Morgan Stanley Smith Barney reported to FINRA that Nick Pietrocola’s firing related to alleged concerns regarding Nick Pietrocola’s handling of a customer complaint regarding annuity transaction, including timeliness of Nick Pietrocola’s report of complaint to firm management.
Subsequent to Nick Pietrocola’s firing by Morgan Stanley Smith Barney, FINRA investigated Nick Pietrocola and brought a disciplinary action against Nick Pietrocola. Nick Pietrocola was fined $5,000 and suspended 20 days from the securities and investment banking industry on December 16, 2013. FINRA reports that Nick Pietrocola provided misleading information to a customer relating to account allocations in his variable annuity. Specifically, FINRA reports that Nick Pietrocola made certain representations to the customer regarding steps he had taken to address the customer’s concerns relating to the manner in which the assets held in his variable annuity had been allocated. FINRA reports that Nick Pietrocola however, had not actually taken these steps and the information Nick Pietrocola relayed to the customer was false.
FINRA also reports that Nick Pietrocola consented to a $500 fine by The Ohio Department of Insurance for Nick Pietrocola’s failure to timely report the FINRA suspension to insurance regulator.
If you lost any money on investments with Nick Pietrocola, you may be able to recover your losses from Morgan Stanley Smith Barney and/or Ameriprise Financial Services, Inc. This is because Morgan Stanley Smith Barney and Ameriprise Financial Services, Inc. had a duty to supervise Nick Pietrocola.
If you lost money on investments with Nick Pietrocola and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Morgan Stanley Smith Barney and/or Ameriprise Financial Services, Inc. concerning Nick Pietrocola’s conduct. 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.
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. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Nick Pietrocola and 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.
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