Vincent Bernard Mastrovito, Formerly of J.W. Cole Financial, Facing Pending Customer Disputes Alleging Unsuitable Recommendations

INVESTORS: Former J.W. Cole Financial broker Vincent Bernard Mastrovito was named in multiple customer disputes alleging unsuitable recommendations.

Vincent Bernard Mastrovito (CRD: 2044645) was registered as a broker with J.W. Cole Financial, where he was employed from 2013 until 2021. Previously, Mastrovito was registered as a broker with Cambridge Investment Research from 2012 until 2013.

Mastrovito has four disclosures on his BrokerCheck report. One customer dispute filed against Mastrovito was denied.

January 2022 Customer Dispute

Status: Pending

Allegations: Client alleges REITs and insurance policy were unsuitable.

January 2022 Customer Dispute

Status: Pending

Allegations: The Statement of Claim alleges the client was overconcentrated in alternative investments, annuities and life insurance policies and as a result, has lost a significant amount of money.

September 2013 Employment Separation After Allegations

Firm Name: Cambridge Investment Research, Inc.

Termination Type: Permitted to Resign

Allegations: Registered representative violated firm policy regarding the sale of equity-indexed annuities.

Broker Comment: FINRA’s investigation surrounding this event did not result in any enforcement action or findings that a rule violation occurred. The client was not deemed to be harmed and the contract is in full force and effect.

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