Elizabeth Guarino, formerly with Wells Fargo, Suspended 15 Months
Have you lost money with financial advisor Elizabeth Ann Guarino of Woodbury, New York? We are investigating allegations made against Elizabeth Ann Guarino. According to the Financial Industry Regulatory Authority (FINRA), Guarino recommended at least 12 speculative investments in an elderly customer’s accounts. The customer lost substantial money in various investments, including oil and gas limited partnerships and Breitburn Energy Partners. FINRA suspended Guarino from the securities industry for 15 months and fined her $10,000.
Elizabeth Guarino was a financial advisor and registered representative of Wells Fargo from 2008 to November 2017. She worked at a branch office in Woodbury, New York. Wells Fargo reimbursed the customer for her losses.
Brokerage firms like Wells Fargo have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past, including Wells Fargo.
Click to view: Guarino, Elizabeth FINRA AWC
Click to view: Guarino, Elizabeth BrokerCheck 11.6.19