Nicholas Joseph Travascio (also known as Nicholas Joseph Tarvash and as Nick Tarvash) of Hurst, Texas, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on September 8, 2021, where the customer requested $48,461.00 in damages based upon allegations of the unsuitable purchase of securities by Travascio when he was associated with LPL Financial Corporation. The complaint alleges that the customer invested in unsuitable real estate securities or REITs between 2007 and 2021.
Travascio has been identified in five more customer initiated investment related disputes concerning accusations of his activities while employed by securities broker dealers, including LPL Financial. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that a customer filed an investment related complaint regarding Travascio’s activities in which the customer sought compensatory damages supported by allegations of a real estate investment trust that had been misrepresented by Travascio at LPL Financial.
Travascio is also referenced in a customer initiated investment related written complaint which was settled for $19,000.00 on October 7, 2019, founded on accusations of unsuitable advice by Travascio at LPL Financial relating to alternative investments, including real estate securities. On December 2, 2019, another customer initiated investment related complaint concerning Travascio’s conduct was resolved for $8,000.00 in damages based upon allegations of Travascio placing the customer in an unsuitable REIT while he was registered with LPL Financial.
On December 31, 2020, a different customer filed an investment related FINRA securities arbitration claim involving Travascio’s activities where the customer requested $90,000.00 in damages supported by accusations of bad REIT purchases for the customer’s LPL Financial account. FINRA Arbitration No. 20-04083. Travascio is also identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $14,999.00 on July 15, 2021, founded on allegations of Travascio steering the customer towards investing in unsuitable REITs given the customer’s investment portfolio. FINRA Arbitration No. 20-03735. According to the claim, the customer’s account had been overconcentrated in four REITs because of Travascio.
Travascio was employed by LPL Financial between May 5, 1999, and December 14, 2018.