Brent Stephen Spicuzza of Chesterfield Missouri a stockbroker formerly registered with AXA Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,100,000.00 in damages based upon allegations that the investment strategy Spicuzza used for the customer’s retirement accounts and brokerage accounts was unsuitable given the customer’s investor profile. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02073 (Aug. 7, 2017).
FINRA Public Disclosure reveals that Spicuzza is referenced in four more customer initiated investment related disputes pertaining to accusations of his misconduct during the period he was associated with AXA Advisors. Specifically, a customer filed an investment related complaint concerning Spicuzza’s conduct where the customer requested unspecified damages supported by allegations that misrepresentations were made to the customer concerning the terms and conditions that concerned options trades executed in the customer’s account.
Subsequently, a customer filed an investment related complaint in regard to Spicuzza’s activities in which the customer sought unspecified damages founded on accusations of the failure to disclose contractual information to customers in reference to their annuities. Moreover, a customer initiated investment related complaint involving Spicuzza’s activities has been settled for $32,357.73 in damages based upon allegations of the customer being placed into a bad variable annuity given the customer’s age. Spicuzza is also referenced in a customer initiated investment related arbitration claim which was resolved for $52,500.00 in damages supported by accusations that Spicuzza gave the customer bad advice regarding the customer’s purchase of energy funds while Spicuzza was associated with AXA Advisors LLC. FINRA Arbitration No. 19-02648 (June 22, 2017).
FINRA Public Disclosure further reveals that Spicuzza has been sanctioned by a securities regulator for misconduct. Specifically, Spicuzza was fined $15,000.00 by Missouri Securities Division founded on allegations of Spicuzza failing to disclose outside business activities that he reportedly engaged in on multiple occasions while registered with AXA Advisors. Case No. AP-15-51 (Nov. 1, 2016). Indeed, Spicuzza’s registration with AXA Advisors was terminated on November 19, 2015 during the time he was investigated by Missouri Securities Department in reference to the outside business activities he reportedly failed to disclose to AXA Advisors while employed by the securities broker dealer.
