Andrew Spaventa: SEC Investigates TSG Advisor

Ronkonkoma, New York financial advisor Andrew Spaventa (CRD# 6175466) is under investigation by the Securities and Exchange Commission for alleged misconduct. Financial Industry Regulatory Authority records show that he is registered as a broker with TSG Capital Advisors and an investment advisor with TSG Alpha Partners.

Mr. Spaventa’s BrokerCheck report discloses the SEC investigation into his conduct. Filed in February 2026, the disclosure states that the SEC started auditing his firm after “years of misconduct by bad actors in the private markets,” and that he “declined a pre-Wells settlement offer, which prompted a Wells notice.” The disclosure does not describe the nature of the alleged conduct under investigation, but it does state that Mr. Spaventa is in “open dialogue” with the SEC.

A second disclosure on his BrokerCheck report concerns an investor complaint against him. Filed in 2018, it alleged that as a representative of Salomon Whitney Financial, he churned investments, acted negligently, made unsuitable recommendations, conducted unauthorized trades, and breached contract. The complaint reached a settlement of $14,999.

A FINRA resource released in 2020 describes excessive trading, also referred to as quantitative unsuitability, as “the situation where a broker makes a large number of trades in a customer’s account not to benefit the customer but to generate commissions for the broker.” A more severe form of excessive trading is referred to as churning, in which a broker engages in excessive trading “with either an intent to defraud or with reckless disregard for the customer’s interests.” More information on potential red flags of excessive trading can be found via FINRA.

According to the Financial Industry Regulatory Authority, Andrew Spaventa holds nine years of securities industry experience. Based in Ronkonkoma, New York, he has been registered as a broker with TSG Capital Advisors since 2024 and an investment advisor with TSG Alpha Partners since 2022. His past registrations include Quantum Advisory Group, SW Financial Network 1 Financial Securities, Salomon Whitney Financial, and Cape Securities. His credentials include the passage of six securities industry qualifying exams; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7TO (Series 7); and the General Securities Principal Examination, or Series 24. He is licensed in New York. (Information current as of May 9, 2026.)

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