Christopher Carl Cavallaro, of Rockland, Massachusetts, a stockbroker registered with LPL Financial LLC, has been the subject of eleven customer initiated, investment related disputes that consist of customer complaints and Financial Industry Regulatory Authority (FINRA) arbitration claims.
According to FINRA Public Disclosure, on August 30, 2024, a customer filed an investment related FINRA securities arbitration claim against Lincoln Financial Advisors Corporation, accusing Cavallaro of recommending an unsuitable oil and gas investment. The customer sought $250,000.00 in damages for the alleged misconduct. As of October 7, 2024, the case is currently pending. FINRA Arbitration No. 24-01855.
In addition to the August 2024 dispute, four additional arbitration claims were filed on February 16, 2024. These claims were filed by investors alleging that Cavallaro recommended unsuitable oil and gas investments given customers’ needs during his time with Lincoln Financial Advisors Corporation. Those customers sought $579,000.00, $200,000.00, $150,000.00, and $150,000.00 in compensation. Each of these cases is also pending before FINRA. FINRA Arbitration No. 24-00348.
Although some cases about Cavallaro are still awaiting outcomes, several previous disputes involving similar allegations have been settled through payments to investors. For example, a customer initiated investment related dispute alleging unsuitable advice about energy investments settled for $22,130.87 on October 6, 2023. FINRA Arbitration No. 23-01277. Another case involving unsuitable oil and gas recommendations was settled on May 10, 2023. The customer in that case had initially sought $167,000.00 in damages. Lincoln Financial Advisors Corporation agreed to a settlement amount of $90,641.06. FINRA Arbitration No. 23-01277.
Similarly, on January 3, 2023, Lincoln Financial Advisors Corporation settled a third case, in which a customer had alleged that Cavallaro’s recommendations concerning oil and gas investments were unsuitable. The dispute was settled with a payment of $42,601.77. FINRA Arbitration No. 23-00001.On April 5, 2022, Lincoln Financial Advisors Corporation paid $286,743.86 to settle a customer initiated investment related dispute. The customer alleged unsuitable advice. FINRA Arbitration No. 22-00744.
Additionally, in a dispute filed on July 27, 2022, a customer accused Cavallaro of recommending an unsuitable oil and gas investment. However, on September 26, 2023, the claim was withdrawn. As with all other cases, Cavallaro denied any wrongdoing and maintained that his investment advice was appropriate for the customer’s needs.
Cavallaro has been registered with LPL Financial LLC as a stockbroker since October 7, 2016, and with Integrated Wealth Concepts LLC as an investment advisor representative since October 17, 2016. He was associated with Lincoln Financial Advisors Corporation from November 26, 2003, to October 19, 2016.
