West Palm Beach Broker/Advisor Michael Vassalotti: $974K Customer Complaint 

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Updated on: March 16, 2023

Investment Losses with Michael Vassalotti at UBS Financial? Contact KlaymanToskes 

National investment loss lawyers KlaymanToskes is investigating Michael Nicholas Vassalotti (CRD# 1461475) of UBS Financial Services after the West Palm Beach, Florida-based broker/financial advisor received a customer complaint alleging $974,000 in damages due to unsuitable and misrepresented insurance products.

If you suffered investment losses with Michael Nicholas Vassalotti or any other advisor at UBS Financial Services in West Palm Beach, FL, you are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options.

Investor Files $974K Complaint Against Michael Vassalotti of UBS

According to FINRA BrokerCheck, Michael Nicholas Vassalotti has four investor complaints disclosed. Vassalotti’s most recent complaint was filed on February 1st, 2023, and alleges that the investor was recommended an unsuitable investment strategy related to insurance products, in which material misrepresentations were made. 

The investor alleges $974,000 in damages and that the strategy recommended was not in their best interest. Vassalotti’s remaining three customer complaints alleged unsuitable investment recommendations and unauthorized trading while he was associated with Morgan Stanley, but were denied by the firm.

Who is Michael N. Vassalotti?

Michael Vassalotti

Michael Nicholas Vassalotti (CRD# 1461475

According to FINRA BrokerCheck, Michael N. Vassalotti has been registered as a broker and investment advisor with UBS Financial Services since 2012 in West Palm Beach, FL. According to the firm’s website, Vassalotti serves as First Vice President of UBS Financials’ Damante Partners Wealth Management. 

Vassalotti holds 37 years of securities industry experience and 23 state licenses. The West Palm Beach, Florida-based broker/advisor was previously registered with Morgan Stanley Smith Barney from 2009 to 2012, and with Morgan Stanley & Co. from 2007 to 2009. 

What Are Brokers/Advisors Responsible For? How Can Investors Recover?

FINRA (“Financial Industry Regulatory Authority”) is the self-regulatory body responsible for regulating all U.S. brokerage firms and brokers/advisors doing business with customers in the United States and other countries. 

Financial advisors and their firms are responsible for providing suitable investment advice. To do so, they must disclose all the risks of any investment. In the event of a misrepresentation or omission of material facts resulting in losses suffered by the investor, the brokerage firm is liable for a breach of fiduciary duty.

Investors that suffered losses at the hands of Michael N. Vassalotti or any other advisor at UBS Financial Services’ West Palm Beach, FL branch are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.


KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.