National investment loss lawyers KlaymanToskes is investigating broker Rich Ceffalio (CRD# 2619565) of Providence Private Wealth, NewEdge Advisors, LPL Financial, and Wells Fargo Clearing Services, after several customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging over $3,530,379 in collective investor damages.
One of the customer complaints filed against Ceffalio alleges that he forged the customers’ signatures on a line of credit agreement in March 2022 and directed the funds outside of the customers’ control. An additional pending complaint alleges Ceffalio solicited a loan from a customer without notice to and approval from his Firm. A third pending complaint alleges unsuitable investment recommendations causing the customers’ accounts to underperform and to sustain substantial losses.
According to FINRA BrokerCheck, broker Rich Ceffalio a/k/a Richard Allen Ceffalio is reportedly doing business as Providence Private Wealth in Arlington Heights, IL. Ceffalio was previously registered with LPL Financial from November 2019 to May 2024, when LPL filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating Ceffalio’s registration due to allegations that he solicited a loan from a customer without notice to and approval from Firm. LPL’s Form U5 further alleged Ceffalio submitted trade corrections containing inaccurate basis for trade correction.
Ceffalio was also previously registered as a broker with Wells Fargo Clearing Services from 2012 to 2019, and is currently registered as an investment advisor with NewEdge Advisors in Arlington Heights, IL.
Investors that suffered losses with broker Rich Ceffalio are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The article linked below contain important information relating to KlaymanToskes’ investigations of broker Rich Ceffalio:
If you suffered losses with broker Rich Ceffalio, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Rich Ceffalio. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA and the SEC, investment firms such as Providence Private Wealth, NewEdge Advisors, LPL Financial, and Wells Fargo Clearing Services are responsible for the supervision of all of the activities of their registered brokers/investment advisors. Investors may be entitled to a financial recovery if their firm failed to supervise the representative managing their account, and/or if their financial advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Rich Ceffalio, or have concerns regarding your investment portfolio at Providence Private Wealth, NewEdge Advisors, LPL Financial, and/or Wells Fargo Clearing Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss your recovery options.