ANDREW JOHN COSTANZO is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 300 PENN CENTER BLVD STE 740, PITTSBURGH, PA, 15235.
ANDREW JOHN COSTANZO has worked at CETERA ADVISORS LLC since January 01, 2004
ANDREW JOHN COSTANZO has 2 Disclosure Event(s).
Date: December 20, 2016 Category: Customer Dispute Allegations: Client alleges representative was negligent in setting up and administering his accounts. Damage Amount Requested: $279,000.00 Settlement Amount: $50,000.00 Broker Comment: Mr. Costanzo was not named in this arbitration, and he absolutely denied any allegations that he or his firm was negligent in handling the client's accounts. The firm ultimately elected to settle the matter solely as a business decision, and Mr. Costanzo did not contribute to the settlement
Date: January 13, 2014 Category: Customer Dispute Allegations: CLIENT HAS ALLEGED UNAUTHORIZED ESTABLISHMENT OF ACCOUNTS, FORGERY, FALSE CLAIMS, THEFT AND ALTERATION OF FORMS. THE FIRM HAS REVIEWED THE ALLEGATIONS IN DETAIL AND HAS NOT FOUND ANY EVIDENCE THAT SUPPORTS THE CLIENT'S ALLEGATIONS. MOREOVER, WHILE THE CLIENT HAS CLAIMED THAT SHE HAS INCURRED LOSSES OF $400,000 IN FACT AT MOST THE CLIENT'S INVESTMENTS INCREASED IN VALUE. ANY LOSSES THAT MIGHT HAVE OCCURRED WOULD HAVE RESULTED IN TAXES AND PENALTIES IMPOSED BY THE IRS FROM HER DEFAULTING OF LOANS OBTAINED ON HER 403(B) ACCOUNTS. Damage Amount Requested: $400,000.00 Broker Comment: I ABSOLUTELY DENY THESE SCURRILOUS ALLEGATIONS FROM THE CLIENT. THE ACCUSATIONS HAVE NO MERIT IN FACT AND I HAVE A VOLUMINOUS AMOUNT DOCUMENTATION TO PROVE THE CLIENT WAS FULLY INFORMED AT EVERY STEP OF THE PROCESS WHEN SHE MADE THE DECISION ON HER OWN VOLITION REPEATEDLY REMOVING FUNDS FROM HER 403B THROUGH LOANS. REGULATORS HAVE PREVIOUSLY ASSESSED HER ALLEGATIONS AGAINST ME AND THEY HAVE CHOSEN NOT TO PURSUE IT FURTHER. I AM OFFENDED THAT THIS LITIGIOUS CUSTOMER NOW COMPLAINS ABOUT ME WHEN I HAVE AFFORDED IMPECCABLE AND HONORABLE ASSISTANCE TO HER AND HER PORTFOLIO FOR COUNTLESS YEARS.
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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