Financial Advisor Paul W. Petrillo, Thrivent Investment Management in Volo, IL
Are you concerned about investments with Paul W. Petrillo in Volo, IL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.
According to public records on FINRA’s website, the regulator barred Petrillo from association with any FINRA member in any capacity. FINRA states that from August 2013 through April 2, 2017, Petrillo purportedly placed 333 discretionary orders to purchase or sell securities in twelve customer accounts away from Thrivent allegedly without notifying the Firm or the executing firm of his relationship to the other. He also allegedly failed to notify Thrivent of the existence of an outside securities account.
Further, between April 3, 2017 and April 20, 2018, Petrillo purportedly participated in fourteen undisclosed private securities transactions in two of the customer accounts, in violation of FINRA rules.
According to the Letter of Acceptance, Waiver and Consent, Petrillo also purportedly provided a false response to a request for information.
According to his FINRA BrokerCheck report, Petrillo was reportedly affiliated with Thrivent Investment Management in Volo, IL for 26 years. He has one customer complaint reported on his broker profile for a customer’s allegations that he “placed trades in her non-Thrivent account without consulting her.”
Investigating Potential Lawsuits
The White Law Group is investigating potential lawsuits regarding the liability that Petrillo’s employers may have for failure to properly supervise him.
When brokers violate securities laws, such as making unauthorized trades, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Illinois. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Paul W. Petrillo, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit whitesecuritieslaw.com.
Tags: FINRA arbitration, Paul W. Petrillo complaints, Paul W. Petrillo financial advisor, Paul W. Petrillo FINRA, Paul W. Petrillo investigation, Paul W. Petrillo lawsuit, Paul W. Petrillo Thrivent Investments, Paul W. Petrillo Volo IL, securities fraud attorney Last modified: December 20, 2022