Nicholas Ippolito III of East Brunswick New Jersey a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged by the firm on January 27, 2017 based upon allegations that Ippolito executed replacements of unit investment trusts for customers despite those investments failing to conform to customers’ investment horizons.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Ippolito is referenced in five customer initiated investment related disputes pertaining to accusations of Ippolito’s sales practice violations during the period that he was employed by Voya, Wells Fargo Advisors and PNC Investments. Specifically, on April 21, 2009, a customer filed an investment related complaint concerning Ippolito’s activities where the customer alleged that Ippolito misrepresented mutual fund products.
On May 27, 2009, a customer filed an investment related complaint regarding Ippolito’s conduct in which the customer alleged that Ippolito engaged in sales practice violations pertaining to transactions effected in the customer’s wrap account. Then, on November 6, 2013, a customer initiated investment related complaint involving Ippolito’s activities was resolved for $20,000.00 in damages based upon allegations that Ippolito falsely stated that the customer’s investment in preferred shares would be government-backed.
On March 14, 2017, another customer filed an investment related complaint concerning Ippolito’s activities where the customer requested $14,647.00 in damages supported by accusations of misrepresentation relating to the terms and conditions of a variable annuity purchased by the customer. Further, on April 9, 2018, a customer initiated investment related complaint regarding Ippolito’s conduct was settled for $30,000.00 in damages founded on allegations that Ippolito placed the customer in a variable annuity when the customer specifically requested a fixed annuity.
Ippolito’s registration with Voya Financial Advisors was terminated on February 10, 2017. Between January 30, 2017 and June 20, 2018, Ippolito was associated with Calton & Associates, Inc. He has been registered with Park Avenue Securities LLC since June 11, 2018.
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