Another National Securities Broker Is Accused of Making Inappropriate Recommendations
Frank Avallone, a National Securities broker since 2015, is currently the subject of two pending customer complaints accusing him of making unsuitable investment recommendations that resulted in six-figure losses for each claimant. He is not the only registered representative from this firm accused of suitability issues.
Unsuitable investments are any recommendation that is inappropriate for the investor. Such a recommendation is contrary to a broker’s duty to only make investment recommendations that are appropriate for the customer as it pertains to their age, financial resources, investing experience, and risk tolerance level.