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Cataldo Panici: $355K REIT Complaint Against Wintrust advisor

Frankfort, Illinois financial advisor Cataldo Panici (CRD# 2112617) recently received an investor complaint alleging damages of more than $300,000. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with Wintrust Investments.

Mr. Panici’s BrokerCheck report discloses multiple investor complaint. The most recent, filed in December 2023, alleges that as a representative of Wintrust Investments, he misinformed the client and mismanaged an elderly couple’s, misrepresenting investments in Northstar and Griffin Capital real estate investment trusts. The pending complaint alleges damages of $355,000.

An earlier investor complaint, filed in 2020, alleged that as a representative of Wintrust Investments, he breached his fiduciary duty in connection with investments in a mutual fund and a non-traded REIT. In 2022 the complaint reached a settlement of $12,500. In a statement included with the complaint’s disclosure, Mr. Panici denied the allegations.

Wintrust Investments’ website includes a profile of Mr. Panici that describes him as a member of the Panici-Dawson Team, a practice within the firm. “Offering a full suite of financial solutions, he helps his clients develop customized strategies designed to meet their financial needs, goals, and dreams,” the profile states. “Cataldo is focused on understanding his clients’ personal circumstances and ensuring their financial strategy reflects their long term goals, risk tolerance, income, and tax considerations.”

According to the Financial Industry Regulatory Authority, Cataldo Panici holds 31 years of securities industry experience. Based in Frankfort, Illinois, he has been a broker and an investment advisor with Wintrust Investments since 2009. His past registrations include Banc of America Investment Services (Orland Park, Illinois; 2008-2009), LaSalle Financial Services (Orland Park, Illinois; 2000-2008), Ameritas Investment Corporation (Lincoln, Nebraska;  1999-2000), Harris InvestorLine (Chicago, Illinois; 2000), Harris Investors Direct (Chicago, Illinois; 1999-2000), Citicorp Investment Services (Long Island City, New York; 1998-1999), Ascend Financial Services (St. Paul, Minnesota; 1993-1999), and NYLife Securities (New York, New York; 1993). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; 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 23 state licenses. (Information current as of February 18, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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