Joseph Marie Andreoli Jr., of Paramaus New Jersey, a stockbroker formerly registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $165,000.00 in damages based upon accusations of Andreoli’s unsuitable transactions involving structured products when he was associated with Wells Fargo Clearing Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02243 (April 20, 2021).
This is not the first time a customer has accused Andreoli of sales practice violations at a securities broker dealer. FINRA Public Disclosure shows that Andreoli is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $56,555.00 in compensatory damages based on Andreoli and Salomon Smith Barney Inc. being found liable on the customer’s claims of unsuitable and unauthorized transactions concerning bonds and financial products. The Statement of Claim alleges negligence, breach of contract, and breach of fiduciary duty regarding Andreoli’s trading of treasury bonds.
Andreoli’s stockbroker and investment adviser representative registrations with Wells Fargo Clearing Services LLC have been terminated on May 7, 2019. He has been employed by Raymond James Associates as a stockbroker since May 2, 2019, and as an investment adviser representative since May 7, 2019.
