Financial Advisor Carmen Dean Morrone Disclosed Three Customer Complaints

• April 23, 2026
• Realta Equities

Carmen Dean Morrone (CRD#: 1898874) is a registered Broker at Realta Equities, Inc, in Wantagh, NY.

Broker’s Background

Carmen Dean Morrone entered the securities industry in 1996 and previously worked at Essex National Securities, Inc., Dime Securities of NY, Inc., Royal Alliance Associates, Inc., Janney Montgomery Scott LLC, CIBC World Markets Corp., Prime Capital Services, Inc., Allmerica Investments, Inc., Wachovia Securities, LLC, Ameriprise Advisor Services, Inc., NYLife Securities LLC, Oppenheimer & Co. Inc., Prime Capital Services, Inc., National Securities Corporation, Investacorp, Inc., Muriel Siebert & Co., Inc. and B. Riley Wealth Management.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in January 2026, Carmen Dean Morrone became the subject of a customer dispute alleging, “failure of due diligence and disclosure”. The damage amount requested is $237,816.53.

 

In addition, Carmen Dean Morrone has been the subject of three customer disputes, including two that remain pending, including the following:

• January 2026 – “failure of due diligence and disclosure.” Damages of $1,000,000.00 are requested, and the customer dispute is pending.
• January 2026 – “failure of due diligence and disclosure.” Damages of $561,303.24 are requested and the customer dispute is pending.
• May 2003 – “annuity sold May 30, 2001 was “an unreasonable and improper investment”. Damages of $22,000.00 were requested. The customer dispute was denied.

 

For a copy of Carmen Dean Morrone’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

FINRA Notice to Members 10-22 provides specific requirements that brokerages and financial professionals must undertake when conducting due diligence on privately held securities, before recommending them to investors.  Moreover, the FINRA suitability rule requires that brokerages and financial professionals make both reasonable basis and customer specific suitability determinations prior to recommending securities to customers.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the financial advisors’ sales practices and dealings with clients.

 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.