UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-80424, IA Release 40-4682 / April 10, 2017: The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Robert N. Tricarico ("Respondent"). The Commission finds that on June 16, 2016, Tricarico pled guilty in the United States District Court for the District of Connecticut to one count of wire fraud in violation of Title 18 United States Code, Section 1343 in the criminal action of United States v. Tricarico, 3:16-CR-001119. On October 5, 2016, Tricarico was sentenced to a term of imprisonment of forty-one months, to be followed by a three-year period of supervised release. He was also ordered to pay restitution of $1,220,763.90 and a special assessment of $100. The judgment was entered on October 13, 2016. In connection with his guilty plea, Tricarico admitted, inter alia, that: At all times relevant, Tricarico acted as a financial advisor for a victim, E.A., who was elderly and required extensive medical attention. E.A. entrusted her financial affairs to Tricarico. E.A. had inherited a significant amount of money. Tricarico assisted E.A. with paying her bills, including her medical and home health aide expenditures. E.A. passed away on or around October 7, 2013; From on or around January 19, 2010, to on or around December 12, 2012, Tricarico wrote or caused to be written numerous checks from E.A.'s bank accounts to himself or a family member totaling $1,152, 850.00. These funds came from E.A.'s inheritance and liquid assets, but also from a reverse mortgage on E.A.'s home that Tricarico helped obtain; In addition, Tricarico wrote or caused to be written checks out of E.A.'s bank accounts totaling $59,660.00 to pay for rent and a security deposit for Tricarico's home in Darien; In or around January 2013, Tricarico pawned coins belonging to E.A. and deposited a total of $17,443.12 as a result; Finally, between January 2013 and June 2013, Tricarico deposited seven checks made payable to E.A. into an account he owned or controlled. With the exception of $16,800.00, Tricarico paid back to E.A. and $16,607.72 of E.A.'s expenses he paid on her behalf, Tricarico knowingly and willfully misappropriated all of these funds for his own benefit without E.A.'s permission or consent, and with specific intent to defraud E.A. and her family. Thus, the total loss to E.A. and her estate was $1,200,763.90; In furtherance of the above-described scheme, on or about July 7, 2011, Tricarico caused John Hancock Life Insurance to wire $20,000 from its account in New York-out of an annuity held at John Hancock by E.A.-to E.A.'s Connecticut Community Bank account ending in 5122. Those funds were then diverted by Tricarico for his own benefit; In addition, in or around January and February 2015, Tricarico borrowed approximately $20,000.00 from an elderly client, K.F., and her son, D.F., for the purpose of starting another financial business in Stamford, Connecticut. Instead of using the funds as promised, Tricarico used their funds for his own benefit and did not invest them in the business venture; and The total loss reasonably foreseeable to Tricarico as a result of the conduct described above was $1,220,763.90.

Order

Bar (Permanent)

association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

Indefinite

4/10/2017

participating in any offering of a penny stock

Indefinite

4/10/2017

Wire Fraud

Pled guilty

Connecticut

On April 22, 2016, the Banking Commissioner issued a Notice of Intent to Deny Registration as an Investment Adviser Agent, Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Fine and Notice of Right to Hearing (Docket No. NDCDRF-16-8200-S) against Robert Neil Tricarico, an applicant for registration as an investment adviser agent of Harbor Vista Wealth Management LLC (IARD No. 174937). Also named in the action was RNT Wealth Management LLC of 6 South Trail, Darien, Connecticut. Respondent Tricarico was the sole member of RNT Wealth Management LLC. On November 21, 2014, the executrix of a client's estate had filed a civil complaint against Tricarico in Connecticut Superior Court (Moore v. Tricarico, Docket No. FBT-CV14-6046911-S) alleging that Tricarico had misappropriated over $1 million from the decedent while Tricarico was associated with Wells Fargo Advisors Financial Network, LLC and LPL Financial LLC. The civil suit was ultimately settled and withdrawn in April 2015. Before the civil suit was settled, and in conjunction with a department investigation, Tricarico allegedly made false statements to the Division concerning the sums appropriated. The Commissioner's action alleged that such statements violated Section 36b-23 of the Connecticut Uniform Securities Act, and that Tricarico knew the statements were false because he was personally involved in transferring funds from the client's accounts to himself directly and through RNT Wealth Management LLC, an entity he controlled. The Commissioner's action also alleged that, in the spring of 2015, Tricarico and RNT Wealth Management LLC violated Section 36b-16 of the Act by offering and selling unregistered promissory notes issued by RNT Wealth Management LLC to at least five of Tricarico's ex-broker-dealer clients. The notes guaranteed a ten percent return. The action alleged that despite the guaranteed nature of the notes, RNT Wealth Management LLC and Tricarico failed to make any payments to investors. The action also alleged that the respondents violated the antifraud provisions in Section 36b-4(a) of the Act by failing to provide investors with any offering document or other written disclosure describing the investment's risks, the registration status of the securities or the fact that RNT Wealth Management LLC and Tricarico lacked funds to make payments on the notes. In addition, in violation of Section 36b-6 of the Act, Tricarico allegedly transacted business as an unregistered agent of issuer, and RNT Wealth Management LLC unlawfully employed him in that unregistered capacity. The action was also based on the Tricarico's allegedly misleading responses to certain form filings, responses which violated Section 36b-23 of the Act and 36b-31-14e(a) of the Regulations thereunder. Specifically, the responses concerned 1) a February 24, 2015 FINRA suspension for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information regarding the status of compliance (Case No. 10-00920); and 2) an April 30, 2015 FINRA bar (Case No. 2014043719001) for failing to provide information requested by FINRA during a FINRA investigation into whether Tricarico converted customer funds.

Order

Cease and Desist

Civil and Administrative Penalty(ies)/Fine(s)

$100,000.00

Denial

Order Denying Registration as an Investment Adviser Agent and Order Imposing Fine entered July 27, 2016.

Claimant alleges that, starting in May of 2007, he loaned former FA hundreds of thousands of dollars to help finance the renovation of a multi-million dollar "McMansion".

CUSTOMER ALLEGES THAT THE ADVISOR FAILED TO EXPLAIN SURRENDER CHARGES, MISREPRESENTED FIXED INDEXED ANNUITIES, AND CUSTOMER SEEKS RESCISSION OF FOUR ANNUITY CONTRACTS. ACTIVITY PERIOD 11/7/11 TO 11/17/14.

$15,264.44

$15,264.44

FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, TRICARICO CONSENTED TO THE SANCTION AND TO THE ENTRY OF FINDINGS THAT HE FAILED TO PROVIDE DOCUMENTS AND INFORMATION REQUESTED BY FINRA DURING THE COURSE OF AN INVESTIGATION INTO WHETHER TRICARICO CONVERTED CUSTOMER FUNDS.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

4/30/2015

CUSTOMER ALLEGES THAT THE ADVISOR MISREPRESENTED INDEXED ANNUITIES AND THAT THEY ARE UNSUITABLE.

$140,375.47

PLAINTIFF ALLEGES THAT ASSETS WERE MISMANAGED AND MISAPPROPRIATED BY THE FA BETWEEN 2009 AND 2011. **AMENDED CIVIL COMPLAINT: PLAINTIFF ALLEGES THAT ASSETS WERE KNOWINGLY STOLEN AND/OR MISMANAGED AND WASTED BY THE FA DURING THE TIME FRAME OF 2009-2011 (AT WFA/WSLLC) AND 2011-2012 (AT LPL).

$390,000.00

FINRA

RESPONDENT TRICARICO FAILED TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO A FINRA REQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.

LETTER

Suspension

ANY CAPACITY

N/A

2/24/2015

PURSUANT TO ARTICLE VI, SECTION 3 OF FINRA BY-LAWS, AND FINRA RULE 9554, RESPONDENT TRICARICO IS SUSPENDED ON FEBRUARY 24, 2015 FOR FAILURE TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO A FINRA REQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.

LPL FINANCIAL LLC

Discharged

REGISTERED REPRESENTATIVE WAS TERMINATED AFTER ALLEGATIONS WERE RECEIVED VIA A LAWSUIT BY THE EXECUTRIX OF A DECEASED CLIENT ALLEGING MISUSE/MISAPPROPRIATION OF CLIENTS FUNDS.

MOORE, SUSAN EXECUTRIX ESTATE OF EMILY ANDERSON

MISMANAGEMENT AND MISAPPROPRIATION OF FUNDS

$133,670.00

Tax

PAYMENT PLAN HAS BEEN AGREED UPON

$1,887.00

Civil

THOUGHT THIS WAS COVERED UNDER BANKRUPTCY

CLIENT ALLEGED UNSUITABILITY WITH RESPECT TO INVESTMENTS - 02/2006-05/2006. DAMAGES UNSPECIFIED.

CLAIM DENIED

CUSTOMER ALLEGES ACCOUNTS WERE UNSUITABLE INVESTED.

$55,939.00

THE ALLEGATIONS ARE DENIED.