Robert Phillip DiBella of Melbourne Florida a stockbroker formerly registered with MSI Financial Services Inc. is the subject of a customer initiated investment related written complaint on October 28, 2016 where the customer alleged that DiBella inappropriately advised the customer to buy an equity indexed annuity.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that DiBella has been identified in four more customer initiated investment related disputes that pertain to allegations of his misconduct while employed with MSI Financial Services and PaineWebber, Inc. In particular, a customer initiated investment related arbitration claim pertaining to DiBella’s conduct was resolved for $16,000.00 in damages based upon accusations of suitability and misrepresentation in regard to limited partnership interest transactions. National Association of Securities Dealers (NASD) Arbitration No. 94-02901 (July 7, 1999).
On December 2, 2013, another customer filed an investment related complaint regarding DiBella’s activities in which the customer alleged that costs and fees pertaining to her investment accounts were not disclosed to her and mutual fund transactions were placed in the customer’s account that were not suitable for the customer.
Thereafter, on March 18, 2016, a customer filed an investment related complaint involving DiBella’s conduct where the customer sought $35,000.00 in damages based upon allegations that DiBella made mutual fund and variable annuity recommendations that were not suitable for the customer.
DiBella’s registration with MSI Financial Services, Inc. was terminated on February 23, 2017. He has been associated with Securian Financial Services, Inc. since March 2, 2017.
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