Angelo Anello: Tailored Wealth Advisor Lands $84K Complaint

Needham, Massachusetts financial advisor Angelo Anello (CRD# 2835091) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Tailored Wealth Management.

Mr. Anello’s BrokerCheck report discloses several investor complaints. The most recent, filed in March 2024, alleges that as a representative of LPL Financial, he recommended unsuitable structured product investments. The pending complaint alleges damages of $84,538.

In a statement included with the complaint’s disclosure, Mr. Anello defends himself against the allegations, describing them as meritless. “All recommendations and investments strategies made for the customer were suitable and consistent with the customer’s investment objectives and risk tolerance,” he writes. “The customer fully understood all risks involved in investing in all products after speaking with the advisor and reviewing documentation.”

An earlier investor complaint, filed in 2023, alleged that as a representative of LPL Financial, he recommended unsuitable structured products. In 2024 the complaint reached a settlement of $30,000.

A third investor complaint, filed in 2021, alleged that as an LPL representative, he recommended unsuitable variable annuity and alternative investments. In 2023 the complaint reached a settlement of $14,500.

Tailored Wealth Management’s website includes a page describing the firm’s approach to serving its clients. “Whatever set of challenges you face, we seek to help you feel confident in your decision-making and proactively create strategies tailored to your unique needs,” it states. “Not only do we develop your retirement strategies as you prepare for retirement, but we also provide ongoing support as you enjoy retirement, including adjusting your strategies as personal or economic changes dictate.”

According to the Financial Industry regulatory Authority, Angelo Anello holds 27 years of securities industry experience. Based in Needham, Massachusetts, he has been registered as a broker and an investment advisor with LPL Financial since 2009, doing business as Tailored Wealth Management. His past registrations include Citigroup Global Markets, Banc of America Investment Services, Quick & Reilly, Dreyfus Service Corporation, and Salomon Smith Barney. His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 24 state licenses. (Information current as of July 8, 2024.)

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