When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
ED CARCHIA JR, EDWARD CARCHIA JR JR, EDWARD CARCHIA JR. JR, EDWARD KARCHIA JR
CRD#: 1328905
IA
Previous Investment Adviser
B
Previous Broker
The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site
Claimant alleged, inter alia, that the investments strategy executed in the client's account was unsuitable 2010-2023
Settlement Amount
$175,000.00
3/30/2016
Customer Dispute
Settled
Allegations
Allegation including time frame: Claimants alleged, inter alia, that investments were unsuitable from 2006 through 2014.
Damage Amount Requested
$500,000.00
Settlement Amount
$20,000.00
Broker Comment
This matter was settled at a small fraction of the alleged damages as a business decision by the Firm to avoid the cost and uncertainty of litigation. The advisor denies any allegation of wrongdoing and was not asked to contribute to the settlement.
5/17/2013
Customer Dispute
Settled
Allegations
CLIENT ALLEGED THAT THE COMMODITY FOCUSED INVESTMENTS IN HIS ACCOUNT WERE UNSUITABLE. 2010-2013
Damage Amount Requested
$133,420.00
Settlement Amount
$30,000.00
Broker Comment
I VEHEMENTLY DISAGREE WITH THESE ALLEGATIONS. THE ALLOCATION OF BOTH ACCOUNTS IS CONSERVATIVELY INVESTED WHEREBY APPROXIMATELY 60% OF EACH ACCOUNT IS IN GOVERNMENT MORTGAGE BACKED BONDS AND THE REMAINING SECURITIES ARE FOR THE MOST PART INVESTED IN GOLD, SILVER, A MUTUAL FUND AND AN INVERSE STOCK EXCHANGE TRADED FUND. FA DID NOT CONTRIBUTE TO THE SETTLEMENT.
License(s)
The broker is not currently registered with any state or SRO.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Loading...
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.