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Arni Diamond: Suitability Complaints Against Diamond Group Advisor
Jacksonville financial advisor Arni Diamond (CRD# 2667392) has received multiple investor complaints alleging he made unsuitable transactions. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is the owner of The Diamond Group, affiliated as an investment advisor with Empirikal Partners, and was formerly a broker with Supreme Alliance in Charlotte, North Carolina.
Mr. Diamond’s BrokerCheck report discloses more than 10 investor complaints. The most recent, filed in May 2022, alleges that as a representative of Dempsey Lord Smith, he recommended an unsuitable transaction. The pending complaint alleges damages of $25,000.
A second investor complaint, filed in 2021, similarly alleged that he recommended unsuitable transactions while at Kalos Capital. In 2022 the complaint reached a settlement of $55,690.60.
A third complaint, filed in 2020, alleged that he made unsuitable recommendations and failed to conduct adequate due diligence. In 2021 the complaint reached a settlement of $15,480.74.
A fourth complaint, filed in 2020, alleged he failed to conduct adequate due diligence before recommending an investment “a Ponzi-like scheme perpetuated by United Development Funding… and GPB Investments.” In 2021 the complaint reached a settlement of $31,358.
A complaint filed in 2019 alleged that he recommended unsuitable investments while at Kalos Capital, reaching a settlement of $46,445. A complaint filed in 2017, meanwhile, alleged that he recommended unsuitable investments while at Berthel Fisher & Company Financial Services. This complaint reached a settlement of $50,000.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Arni Diamond holds 24 years of securities industry experience. Based in Jacksonville, Florida, he is the owner of The Diamond Group and has been an investment advisor with Empirikal Partners since March 2022. His past registrations include Supreme Alliance, Dempsey Lord Smith, Kalos Capital, Berthel Fisher & Company, FSC Securities Corporation, USAllianz Securities, Princor Financial Services Corporation, Jefferson Pilot Securities Corporation, MetLife Securities, Security First Financial, and Guardian Investor Services Corporation. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Uniform Securities Agent State Law Examination, or Series 63; and the Securities Industry Essentials Examination, or SIE. He is licensed as an investment advisor in Florida. (Information current as of July 8, 2022.)
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