Stoltmann Law Offices is interested in speaking to those investors who may have invested with Walter Marino, a broker registered with Benjamin Securities. According to a New York Times article and customer complaints filed with the Financial Industry Regulatory Authority (FINRA), Marino allegedly made unsuitable recommendations to invest in variable products such as variable annuities and equity indexed annuities. He allegedly solicited teachers to invest in the annuities with their retirement savings. These are complex, illiquid and risky securities, and are not suitable for all investors. A broker must take into account a customer’s age, net worth, investment strategy and investment sophistication before recommending or selling a security. If he does not, his investment firm may be liable for losses.
Marino was registered with Painewebber, First Hanover Securities, Westfield Financial Corp, Stratton Oakmont, HGI, The JB Sutton Group, Berry-Shino Securities, Brill Securities, Ehrenkrantz King Nussbaum, Legend Securities, Planmember Securities and Benjamin Securities in Hauppauge, New York from November 2016 until December 2016. He has seven customer disputes against him, four of which are pending, according to his FINRA BrokerCheck report. Please call today if you suffered losses with Mr. Marino. 312-332-4200.