Robert Torcivia Allegedly Violates His Firm’s Policies Regarding Beneficiary Appointments

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Robert Torcivia. According to his publicly available FINRA BrokerCheck report, Robert Torcivia has been the subject of a FINRA sanction.

Robert Torcivia was an Arizona based securities broker. He worked in the securities industry for forty-four years. During his career, he was registered with twelve different securities firms. He is not currently working as a registered securities broker in any fashion.

His Registrations

• Shearson, Hammill & Co. (1974, 1975-1979)


• The Variable Annuity Marketing Company (1974-1975)


• Wedbush, Noble, Cook, Inc. (1979-1982)


• Botcher & Company (1981-1984)


• E.F. Hutton & Company (1984-1988)


• Dean Witter Reynolds (1988-1994)


• Painewebber Incorporated (1994-2000)


• Piper Jaffray & Co. (2000-2004)


• Wells Fargo Advisors (2004-2010)


• Ameriprise Financial Services (2010-2015)


• Moors & Cabot Inc. (2015-2018)

The Allegations

Robert Torcivia was offically sanctioned by FINRA in September 2018. The findings in this matter state that he improperly accepted fiduciary and beneficiary designations from three separate senior customers contrary to his member firm's policies. Due to these allegations, he was fined $10,000 and suspended from acting as a securities broker in any fashion for a period of seven months. He was terminated from his position at Ameriprise Financial Services two years prior due to the allegations coming to light.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Robert Torcivia, please contact Oakes & Fosher for a free and private consultation.