- July 31, 2019
- Spartan Capital
Nicholas J. Schiano (CRD # 4429212) is a Financial Advisor at Spartan Capital Securities, LLC in New York, NY. Nicholas Schiano has been in the securities industry since 2001 and previously worked at Worden Capital Management, Legend Securities, Joseph Gunnar & Co., Brookstone Securities, Citigroup Global Markets, Chase Investment Services, E*Trade Securities, J.P. Turner & Company, Gunnallen Financial and G&L Partners.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Nicholas Schiano has two customer complaint disclosures alleging the following:
- April 2019 – “Allegations of misrepresentation, negligence, breach of fiduciary duty.” Alleged damages are $208,000.
- August 2017 – “Unsuitable Transactions.” The matter settled for $35,000.
For a copy of Nicholas Schiano’s CRD, click https://brokercheck.finra.org/individual/summary/4429212#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.
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