JOSEPH CAPPORELLI is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 15 MARKET BLVD, WEBSTER, FL, 33597.
JOSEPH CAPPORELLI has worked at CETERA ADVISORS LLC since September 21, 2016
Disclosure History
JOSEPH CAPPORELLI has 2 Disclosure Event(s).
Date: March 04, 2008 Category: Customer Dispute Allegations: ATTORNEY FOR CLIENT CLAIMS THE FA PLACED THE CLIENT IN TWO FUND FAMILIES RESULTING IN CLIENT NO RECEIVING BREAKPOINTS; ATTORNEY CLAIMS FA FAILED TO ADVISE THE CLIENT THE ANNUITY WOULD REQUIRE CONTINUAL DEPOSITS AND HE FAILED TO NOTIFY THE CLIENT WHEN HER ACCOUNTS SUFFERED A $7,000 LOSS. ATTORNEY CLAIMS THE CLIENT INFORMED THE FA OF THE NECESSITY OF SECURE, CONSERVATIVE ACCOUNTS THAT WOULD GUARANTEE A RETURN. AND FA ASSURED HER SHE WOULD MAKE BACK THE UPFRONT COMMISSION CHARGES. ATTORNEY IS REQUESTING THE RETURN OF ALL COMMISSIONS ($4580.00) AS WELL AS LOSSES ($7000) ASSOCIATED WITH THE ACCOUNT. CLAIM EXCEEDS $5,000 Damage Amount Requested: $11,580.00 Broker Comment: FA STATED [CUSTOMER] WAS VERY FAMILIAR WITH MUTUAL FUNDS BASED ON HER PAST INVESTMENT EXPERIENCE. FA STATED HE SUGGESTED THE BOND FUNDS (PURCHASED AT LOWER COMMISSIONS THAN EQUITY FUNDS) AS WELL AS THE ANNUITY WHICH WAS PURCHASED AT THE $100,000 BREAKPOINT. FA STATED BEGAN MOVING FUNDS FROM BOND FUNDS TO EQUITY FUNDS AT REQUEST OF CLIENT WHO WANTED MORE EQUITY EXPOSURE TO INCLUDE FOREIGN EQUITY EXPOSURE. ORIGINALLY, FA STATED CLIENT WANTED TO BE ENTIRELY IN FOREIGN EQUITIES & HE ADVISED HER TO MOVE SLOWLY INTO EQUITIES AND REMAIN DIVERSIFIED. FA STATED HE AT NO TIME GUARANTEED PERFORMANCE OF FUNDS NOR WAS IT THE REQUEST OF CLIENT TO BE SOLELY IN SECURE, CONSERVATIVE ACCOUNTS GUARANTEEING RETURN. CLIENT RECEIVED TRADE CONFIRMATIONS & FUND PROSPECTUSES AT TIME OF ACTIVITY. ADDITIONALLY, THERE WAS NO REQUIREMENT FOR ADDITIONAL FUNDS TO BE ADDED TO ANNUITY. ACCORDING TO FA, HE BELIEVED CLIENT CONTACTED PROTECTIVE AND THERE WAS MISUNDERSTANDING BETWEEN A LOI AND ROA. THE BREAKPOINT WAS GIVEN TO CLIENT UNDER THE TERMS OF ROA AND NO ADDITIONAL MONEY IS REQUIRED TO BE DEPOSITED. IT IS MY UNDERSTANDING THIS WAS CONVEYED TO CLIENT. CLIENT WAS PROVIDED WITH ANNUITY CONTRACT & PROSPECTUS. BASED ON REVIEW, APPEARS ALL ACTIVITY WAS BASED ON DISCUSSIONS WITH FA & AUTHORIZED BY CLIENT. FURTHER, APPEARS FA MADE NO GUARANTEES ON PERFORMANCE & BASED HIS RECOMMENDATIONS ON INFORMATION PROVIDED AT TIME OF TRANSACTIONS & LONG-TERM INVESTMENT TIME HORIZON CONVEYED TO HIM BY CLIENT. ADDITIONALLY, IT DOES APPEAR INVESTMENTS WERE NOT OUTSIDE SCOPE OF INVESTMENT OBJECTIVES OF ACCOUNT. WHILE UNDERSTAND CLIENT'S DISAPPOINTMENT WITH PERFORMANCE OF INVESTMENTS, IT APPEARS DECLINE IN VALUE IS ASSOCIATED WITH MARKET FLUCTUATION (A RISK ASSOCIATED WITH INVESTING) AS WELL AS THE SHORT-TERM HOLDING PERIOD. CLAIM DENIED.
Date: June 15, 1979 Category: Criminal Charges: MISDEMEANOR-THEFT OF HUBCAPS (AUTOMOBILE), CHILDHOOD PRANK, AGE 17.PLEAD GUILTY,1 COUNT (I BELEIVE) Charge Type: MISDEMEANOR Disposition: 1 YEAR COURT SUPERVISION Broker Comment: WRONGFULLY PROCURRED HUBCAPS OF A AUTOMOBILE THAT DID NOT BELONG TO ME AS A CHILDHOOD PRANK. INCIDENT OCCURED IN CALUMET CITY, IL., APPREHENDED BY THE CALUMET CITY P.D. I WENT TO COURT IN MARKHAM, IL. (COOK COUNTY, 6TH DISTRICT). INCIDENT HAPPEN IN JUN 1979, COURT APPEARENCE WAS POSSIBLY AUGUST OF 1979.
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