The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Ruben Frezzotti. According to his publicly available FINRA BrokerCheck report, Ruben Frezzotti has been the subject of multiple customer disputes over the course of his career.

Ruben Frezzotti is a Florida based securities broker. He has worked in the securities industry for sixteen years. During his career, he has been registered with four different securities firms.

His Registrations

  • Salomon Smith Barney (2001)
  • PFIC Securities (2003-2004)
  • Morgan Keegan & Company (2004-2013)
  • Raymond James & Associates (2013-Present)

The Allegations

  • In August 2011, a customer alleged that Ruben Frezzotti recommended unsuitable investments, made material misrepresentations, and churned their account in connection to a variable annuity and real estate investment trust. The alleged transgressions taking place between 2005 and 2007. This case was settled for $5,000 in damages.
  • In June 2012, a customer alleged that Ruben Frezzotti recommended unsuitable securities and misrepresented material facts concerning an investment in a real estate investment trust that had been purchased in 2008. This case was settled for $25,000 in damages.
  • In November 2017, a customer alleged that Ruben Frezzotti recommended unsuitable securities, handled their account negligently, made negligent misrepresentations and omissions, breached his fiduciary duty, breached contract, and engaged in fraud. This case is currently pending. The customer is seeking $180,000 in damages.

Unsuitable Investments

One of the most notable allegations levied against Ruben Frezzotti was that he recommended unsuitable investments to his customers. Securities brokers have an obligation to their customers to only recommend investments that they are financially suited for. Investors who have been invested in securities they are not financially suited for can experience serious financial harm. Brokers can determine if a particular investment is suitable for a particular customer by looking at factors like the customer’s investment objectives, financial situation, liquidity needs, age, and risk tolerance. Determining suitability is one of the most important aspects of securities broker’s job and thus they cannot excuse themselves by claiming they were unaware of an investment’s unsuitability.

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 Ruben Frezzotti, please contact Oakes & Fosher for a free and private consultation.