Billy Lodico: $200K Complaint Against Craft Capital Advisor

Garden City, New York financial advisor Billy Lodico (CRD# 6096241) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Craft Capital Management, having previously been registered with Alexander Capital.

Mr. Lodico’s BrokerCheck report discloses one investor complaint. Filed in February 2026, it alleges that as a representative of Craft Capital Management, he recommended unsuitable investments, used margin, executed unauthorized transactions, made misrepresentations of material facts, acted negligently, and breached his fiduciary duty. The pending complaint alleges damages of $200,000.

For reference, unauthorized trading may be found to violate FINRA Rule 3260, which describes specific conditions under which brokers like Mr. Lodico are permitted to make transactions without first consulting the investor. It may also violate FINRA Rule 2010, which stipulates that FINRA-associated persons must “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who engage in unauthorized trading may be held liable for damages and/or subject to disciplinary action.

FINRA rules establish numerous standards that stockbrokers must follow. One important piece of guidance is the suitability rule, which states that stockbrokers must “have a reasonable basis to believe” that the investments and/or investment strategies they recommend to their clients are appropriate for the client’s background and needs—that is, that the recommendations are suitable. As outlined in FINRA Rule 2111, brokers ascertain an investment’s suitability based on “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” The customer’s investment profile includes their age, net worth, risk tolerance, income, and more. Brokers who recommend unsuitable transactions may be liable to their clients in the event of losses.

According to the Financial Industry Regulatory Authority, Kevin Birkner holds nine years of securities industry experience. Based in Garden City, New York, he has been registered as a broker with Craft Capital Management since February 2024. His past registrations include Alexander Capital, Spartan Capital Securities, Worden Capital Management, Garden State Securities, Chelsea Financial Services, and Reid & Rudiger. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 18 state licenses. (Information current as of May 4, 2026.)

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