Philip Anthony Marchetti of Pompton Plains New Jersey is a stockbroker formerly registered with PNC Investments who has been fired on August 5, 2016 supported by allegations that he failed to be forthcoming with supervisory personnel at PNC in an investigation into whether Marchetti executed unauthorized trades in an account owned by a firm customer.
He may have been soliciting and victimizing traditional PNC Bank customers through the cross marketing of securities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Marchetti has been referenced in three customer initiated investment related disputes pertaining to accusations of Marchetti’s improper conduct while employed with Quick & Reilly and Banc of America Investment Services, Inc. Specifically, on November 19, 2008, a customer filed an investment related written complaint involving Marchetti’s conduct alleging that investments had been chosen by the financial advisor which were inappropriate for the customer in consideration of the customer’s risk tolerance.
Subsequently, on March 24, 2010, a customer filed an investment related written complaint that pertained to Marchetti’s activities where the customer alleged that investment instructions were not followed concerning mutual funds. Thereafter, a customer initiated investment related arbitration claim that pertained to Marchetti’s conduct was settled for $375,000.00 in damages based upon allegations of unsuitable equities transactions and misrepresentation. FINRA Arbitration No. 09-05388 (July 20, 2011).
Since August 16, 2016, Marchetti has been employed by LPL Financial LLC.
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