Investor Lawsuit Investigation – Robert D’Agosta
The White Law Group is investigating potential securities claims involving financial advisor Robert D’Agosta (CRD #1903105), in light of multiple customer complaints and regulatory actions reported by the Financial Industry Regulatory Authority (FINRA).
According to FINRA’s public records, D’Agosta is currently registered with IBN Financial Services, Inc. in Liverpool, New York. His BrokerCheck profile reflects nine disclosures, including settled customer complaints, an arbitration award, and two regulatory actions involving sales practice violations.
D’Agosta has reportedly been the subject of several recent customer disputes involving allegations of unsuitable investment recommendations, misrepresentation, failure to act in the client’s best interest, and lack of due diligence. In a complaint filed on May 31, 2023, the client alleged unsuitable recommendations and failure to act in their best interest. The matter was settled for $18,499. A 2022 complaint alleged that investments purchased between 2013 and 2015 were unsuitable and that risks were misrepresented or omitted; the claim was settled for $25,000. A 2020 complaint involving recommendations from 2005 to 2014 was settled for $26,000.
A 2017 claim involving allegations of unsuitable investments and firm supervision failures was settled for $500,000. In a 2015 arbitration, an award was issued in favor of the claimant, with $200,000 in damages granted. D’Agosta was found jointly and severally liable for both compensatory and punitive damages.
In 2019, the Wisconsin Commissioner of Insurance denied D’Agosta’s insurance license application due to prior arbitrations. In 2003, NASD (now FINRA) sanctioned D’Agosta for engaging in private securities transactions without proper disclosure. He was fined and suspended for 30 days.
Risks of Broker Misconduct and Firm Supervision Failures
When a broker recommends high-commission, illiquid, or risky products that are not appropriate for an investor’s goals, the results can be financially devastating. Brokers are required under FINRA rules to ensure that investment recommendations are suitable, risk disclosures are complete, and that they follow firm procedures. Brokerage firms are also obligated to supervise their registered representatives. When they fail to do so, they may be held liable for resulting losses.
Recovery Options for Investors
If you invested with Robert D’Agosta and IBN Financial and are concerned about potential investment losses, you may be able to recover damages through FINRA arbitration. The White Law Group is currently investigating whether brokerage firms that employed D’Agosta failed in their supervisory duties.
FINRA arbitration is often the most efficient and cost-effective option for investors to recover losses, especially compared to class action lawsuits, which can take years and often result in smaller individual recoveries. Each case in FINRA arbitration is considered on its own facts and merits, giving wronged investors a greater opportunity to seek full compensation.
FINRA Arbitration vs. Class Action – What’s the Difference?
Most investors don’t realize that disputes with brokerage firms are generally not handled in court. Instead, investors are usually required to pursue claims through FINRA arbitration, a private dispute resolution process governed by the Financial Industry Regulatory Authority. FINRA arbitration is typically faster than a class action lawsuit, often resolving within 12 to 18 months, whereas class actions can take several years.
In arbitration, individual investors have the opportunity to present the specific facts and evidence of their case, as opposed to class actions, which are led by one or a few plaintiffs representing a group. Payouts in arbitration are based on each investor’s actual losses, while class action settlements are often divided among many participants, resulting in smaller individual recoveries. However, arbitration is limited to disputes involving FINRA-member brokerage firms, while class actions may address a broader range of parties and legal issues.
Free Consultation
The White Law Group has handled over 800 FINRA arbitration claims involving broker misconduct and investment fraud. If you are concerned about your investments with Robert D’Agosta, call our offices at 1-888-637-5510 for a free consultation.
For more information, please visit our website at www.whitesecuritieslaw.com.
Frequently Asked Questions (FAQs) – Robert D’Agosta
- What were the allegations involving Robert D’Agosta?
Clients alleged unsuitable investment recommendations, misrepresentation, failure to act in their best interest, and lack of due diligence. Several complaints resulted in settlements or arbitration awards, and regulators also imposed sanctions. - Can I recover losses if I invested with Robert D’Agosta?
Possibly. If you suffered losses as a result of investing with D’Agosta, you may be able to recover damages through a FINRA arbitration claim against the brokerage firm that employed him. Firms can be held liable for failure to supervise their registered representatives. - What is the difference between FINRA arbitration and a class action lawsuit?
FINRA arbitration is a private dispute resolution process designed specifically for investor claims against brokerage firms or financial advisors. Unlike class actions, each FINRA case is decided on its own merits, which often results in faster resolutions and potentially larger individual recoveries. Class actions, on the other hand, group many investors together and typically involve a longer process with smaller payouts per person.
