Former R.M. Stark Financial Advisor, Thomas Marino, Barred By FINRA For Allegedly Misusing Funds From Senior Customer
Thomas Marino (CRD # 4438533) was a Financial Advisor at R.M. Stark & Co. in Delray Beach, FL. Thomas Marino has been in the securities industry since 2001 and previously worked at JW Cole Financial and Newbridge Securities Corp.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 18, 2019, Thomas Marino was sanctioned by FINRA, barring him indefinitely from associating with a brokerage firm. Thomas Marino consented to the sanction after “he refused to provide documents and information requested by FINRA in connection with its investigation into his possible misuse of funds from a senior customer.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2019062412601%20Thomas%20John%20Marino%20CRD%204438533%20AWC%20jm%20%282019-1566174316129%29.pdf
Just prior to the FINRA sanction, Thomas Marino was discharged by R.M. Stark for allegedly making “unsuitable investments” for a customer. In addition to these disclosures, Thomas Marino has three customer complaints reflected on his publicly available disclosure report, including the following:
- April 2019—“Client alleges inappropriate and unsuitable investments for her risk tolerance.” Alleged damages are $300,000.
- November 2016—“Client alleges financial advisor made unauthorized transactions in his account…” The client alleged damages of $26,000.
- May 2005—“Customer alleged deferred variable annuity sold to them in a qualified plan was unsuitable. The dispute was settled for $7,676.
For a copy of Thomas Marino’s CRD, click https://brokercheck.finra.org/individual/summary/4438533#disclosuresSection
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.
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 firstname.lastname@example.org.
- Investment Loss Recovery Options For Investors In The 1INMM Capital, LLC Ponzi Scheme Perpetrated By Actor Zachary Horwitz a/k/a Zachary Avery
- J.W. Cole Financial, Inc. Sanctioned by FINRA for Sales Practices Relating To Sales And Supervision Of LJM Preservation & Growth Fund
- Cambridge Investment Research, Inc., Sanctioned by FINRA for Sales Practices Relating To Sales And Supervision Of LJM Preservation & Growth Fund
- Former Torch Securities Broker Jeremy Johnson Barred By FINRA After Allegedly Making Misrepresentations To Customers
- Former Lincoln Douglas Investments Broker Herbert G. Frey Sanctioned By FINRA For Alleged Unauthorized Trading
- Two Customer Complaints Pending Against Ausdal Financial Partners, Inc. Investment Advisor and Broker Kurt Baldry
- Concorde Investment Services Broker, Mark Huber, Has Two Customer Complaints, Alleging Sales Practice Misconduct
- Unsuitability Allegations Pending Against Previously Registered Voya Financial Advisors, Inc. Financial Advisor and Broker David R. Wall
- Common Types of Alternative Investments
- Did You Purchase GPB Capital Holdings Private Placements Through McNally Financial Services Or Daniel Poland