1.800.931.8452
We can help recover your investment loss. Free consultations, always. CONTACT US

USA Financial Securities Corp. Broker, Robert Gianchiglia, Has Six Disclosed Customer Complaints, Alleging Sales Practice Violations

Robert Gianchiglia (CRD # 2117250) is a Financial Advisor at USA Financial Securities Corp. in Worcester, MA. Robert Gianchiglia has been in the securities industry since 1991 and previously worked at Ameritas Investment Corp.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Robert Gianchiglia has six disclosed customer complaints, alleging sales practice violations. Among the customer complaints against Robert Gianchiglia include the following:

• November 2019—”FINRA arbitration 19-03388 in which the claimants allege misrepresentation in the sale of private placement.” Alleged damages are $200,000 and the matter remains pending.
• March 2017—”BETWEEN 12/14/2009 AND 12/31/2016, CLAIMANT IS ALLEGING NEGLIGENCE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, MISREPRESENTATION, UNSUITABLE TRADING AND FAILURE OF SUPERVISION.” The matter was settled for $45,000.
• November 2014—”CLAIMANT ALLEGES UNSUITABLE INVESTMENTS, NEGLIGENT ACCOUNT MANAGEMENT, MISREPRESENTATION, BREACH OF CONTRACT, AND BREACH OF FIDUCIARY DUTY. JULY 2004 – DECEMBER 2007.” Matter was settled for $14,995.
• November 2014—” CLAIMANT ALLEGES MISREPRESENTATION AND UNSUITABLE INVESTMENTS.” Alleged damages were $105,00. The claim was denied.
• September 2003—” CLIENT ALLEGING THAT HE WAS NOT TOLD HE WAS PURCHASING AN ANNUITY, AND THAT HE NEVER RECEIVED A CONTRACT OR A PROSPECTUS. CLIENT IS ALSO ALLEGING THAT THE REPRESENTATIVE HAD HIM SIGN BLANK FORMS.” The matter was settled for $116,569.

For a copy of Robert Gianchiglia’s CRD, click https://brokercheck.finra.org/individual/summary/2117250#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.

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

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.

Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s:
• Age
• Other investments
• Financial situation and needs
• Tax status
• Investment objectives
• Time horizon
• Liquidity needs
• Risk tolerance
• Any other information disclosed by the customer
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.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.

Main Office - Fort Lauderdale

1250 S. Pine Island Road
Suite 325
Plantation, FL 33324
Phone: (800) 931-8452
(954)-406-1231

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis

Additional Office Locations (by appointment only)

Atlanta

3355 Lenox Road
Suite 7
Atlanta, GA 30326

Indianapolis

13295 N. Illinois St.
Suite 314
Indianapolis, IN 46032

New York City

275 Madison Avenue
Suite 705
New York, NY 10016

Dallas

3102 Maple Ave.
Suite 400
Dallas, TX 75201

Irvine

2600 Michelson Drive
Suite 1700
Irvine, CA 92612

Portland

5933 NE Win Sivers Drive
Suite 205
Portland, OR 97220

Denver

7900 E. Union Ave.
Suite 1100
Denver, CO 80237

Naperville

1700 Park Street
Suite 103
Naperville, IL 60563

Seattle

1001 Fourth Ave.
#3200
Seattle, WA 98154

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis