Allan Perry Montalbano of Garden City New York a stockbroker formerly registered with Four Points Capital Partners LLC and Worden Capital Management LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $543,163.00 in damages founded on accusations that they had received unsuitable investment recommendations from Montalbano concerning equities trades at Four Points. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-68741 (June 26, 2020). The claim alleges that Montalbano charged inappropriate commissions to the customer.
Montalbano has been identified in 14 more customer initiated investment related disputes regarding allegations of his wrongful actions while employed by National Securities Corp, Woodstock Financial Group Inc. and Worden Capital Management. FINRA Public Disclosure shows that a customer initiated investment related FINRA securities arbitration claim concerning Montalbano’s conduct was settled for $140,000.00 in damages based upon accusations of negligence and misrepresentation as it pertained to over-the-counter equities trades made by Montalbano at Woodstock Financial Group. The claim alleges a breach of contract and breach of fiduciary duty by Montalbano in regard to the equities transactions.
Montalbano is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $15,000.00 in damages supported by allegations that Montalbano made misrepresentations regarding over-the-counter equities and his negligence resulted in damages to the customer. FINRA Arbitration No. 17-00240 (Mar. 31, 2017). The claim alleges that National Securities Corp violated Iowa Uniform Securities Act and breached a contract with the customer.
On March 1, 2018, a different customer initiated investment related FINRA securities arbitration claim regarding Montalbano’s conduct was resolved for $15,000.00 in damages supported by accusations of negligent supervision by Worden Capital Management. FINRA Arbitration No. 17-02308. The claim alleges that Montalbano made unsuitable trades and churned the customer’s account at Worden Capital Management. Allegations also include breach of contract and fraud.
On March 2, 2018, another customer filed an investment related FINRA securities arbitration claim involving Montalbano’s activities in which the customer requested $165,000.00 in damages founded on accusations of negligence and that a contract between the customer and the securities broker dealer had been breached. FINRA Arbitration No. 16-01682. According to the claim, Montalbano breached his fiduciary duty to the customer concerning over-the-counter equities transactions.
Montalbano is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $160,000.00 in damages based upon allegations of misrepresentation and negligence by Montalbano at National Securities Corporation. FINRA Arbitration No. 17-00703 (Oct. 12, 2018). According to the claim, Montalbano breached a contract and breached a fiduciary duty in regard to the customer’s equity holdings.
Montalbano is referenced in a different customer initiated investment related FINRA securities arbitration claim which was settled for $180,000.00 in damages founded on accusations of negligent misrepresentation and the breach of fiduciary duty by Montalbano during the period that he was associated with NSC. FINRA Arbitration No. 18-02616 (Sept. 16, 2020). The claim also contains allegations of breach of contract and negligence.
Montalbano was registered with Worden Capital Management between June 1, 2015 and January 19, 2017.
