Frank Avallone, Broker for National Securities, Named in Two Customer Disputes Alleging Unsuitable Investments

The combined damages being sought in the two disputes is over $349K.

The Sonn Law Group is investigating allegations that Frank Avallone made unsuitable investment recommendations. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Frank Avallone (CRD#: 4184368) has been registered with National Securities Corp. since 2015. Previously, he was a registered broker with Newbridge Securities Corp. from 2012 until 2015.

Avallone has 4 disclosures on his BrokerCheck report.

February 2020 Customer Dispute

• Status: Pending

• Allegations: “Suitability.”

• Damage Amount Requested: $140,000.00
• Broker Comment: “All investments the client made were suitable based on the client’s stated objectives for this account. After discussions on each recommendation, the client funded each investment he chose to make.”

November 2019 Customer Dispute

• Status: Pending

• Allegations: “Suitability”

• Damage Amount Requested: $209,200.00
• Broker Comment: “The customer fully executed documentation to make an investment as per his own written instructions, and in accordance with his investment objectives and suitability profile.”

December 2013 Customer Dispute

• Status: Settled

• Allegations: “Unsuitability, breach of fiduciary duty, churning, violation of FINRA Conduct Rules, negligence, failure to supervise, breach of contract, and vicarious liability.”

• Damage Amount Requested: $200,000.00
• Settlement Amount: $6,100.00

December 2018 Customer Dispute

• Status: Settled

• Allegations: “Customer alleges misrepresentation and unsuitable investments in connection with two alternative investments.”
• Damage Amount Requested:  $120,000.00
• Settlement Amount: $25,374.83

September 2012 Customer Dispute

• Status: Settled

• Allegations: “Customer claimed he had an oral agreement whereas there would be no commissions charged on equity purchases. Commissions would only be accessed on sales of equities where there was a profit.”

• Damage Amount Requested: $7,450.00
• Settlement Amount: $2,500.00

Contact Us Today

The Sonn Law Group is currently investigating allegations that Frank Avallone made unsuitable recommendations. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.