Former Wells Fargo Financial Advisor, Elizabeth Guarino, Suspended By FINRA For Alleged Recommendation Of Unsuitable Speculative Securities Transactions
Elizabeth Guarino (CRD # 1264531) was a Financial Advisor at Wells Fargo Clearing Services, LLC in Woodbury, NY. Elizabeith Guarino has been in the securities industry since 1984 and previously worked at Morgan Stanley, Salomon Smith Barney and Lehman Brothers.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on November 1, 2019, FINRA suspended Elizabeth Guarino for fifteen months for allegedly recommending “speculative securities transactions, in oil and natural gas limited partnerships whose general credit rating was junk, to her elderly member firm customer that were unsuitable.”
For a copy of Elizabeth Guarino’s FINRA sanction click https://www.finra.org/sites/default/files/fda_documents/2017055883501%20Elizabeth%20Ann%20Guarino%20CRD%201264531%20AWC%20sl.pdf.
In addition, Elizabeth Guarino was the subject of an August 2016 customer complaint alleging “unsuitable energy investments.” The alleged damages were $280,000, and the matter settled for $150,000.
For a copy of Elizabeth Guarino’s CRD, click https://brokercheck.finra.org/individual/summary/1264531#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