Andrew Montgomery Costa, of Fort Lauderdale, Florida, a stockbroker formerly registered with GF Investment Services LLC, is referenced in a customer initiated investment related FINRA arbitration claim in which the customer requested compensatory damages founded on allegations of unsuitable recommendations by Costa concerning alternative investments, including direct participation programs (DPPs), limited partnerships (LPs), and real estate securities while Costa was associated with GF Investment Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01759 (September 20, 2021).
FINRA Public Disclosure shows that Costa has been identified in five more customer initiated investment related disputes containing accusations of his harmful activities while employed by GF Investment Services and Madison Avenue Securities LLC. On October 21, 2020, a customer initiated investment related arbitration claim involving Costa’s conduct was settled for $26,500.00 in damages supported by allegations of unsuitable recommendations concerning Woodbridge promissory notes. FINRA Arbitration No. 20-00566.
Costa is the subject of a customer initiated investment related written complaint which was resolved for $22,500.00 on December 9, 2020, based upon accusations of bad investment advice by Costa regarding investments in fixed annuities and REITs when Costa was employed by Madison Avenue Securities.
Costa is identified in a different customer initiated investment related arbitration claim where the customer sought compensatory damages founded on allegations of unsuitable alternative investments and life insurance products being sold by Costa and GF Investment Services. FINRA Arbitration No. 21-00225 (April 1, 2021).
On August 9, 2021, another customer initiated investment related arbitration claim concerning Costa’s activities was settled for $9,500.00 in damages supported by accusations of breach of contract and breach of fiduciary duty concerning LP interests and DPP interests through Costa and GF Investment Services. FINRA Arbitration No. 20-02160. The claim alleges negligence and unsuitable investment recommendations concerning these alternative investments.
Costa is also referenced in a customer initiated investment related arbitration claim which was resolved for $14,999.00 in damages based upon allegations of the customer being provided with bad investment advice regarding REITs during the time that Costa was registered with GF Investment Services. FINRA Arbitration No. 21-01639 (August 12, 2021).
Costa’s registration with GF Investment Services was terminated on August 8, 2017. Since August 7, 2017, he has been associated with Madison Avenue Securities.