FSC Securities Advisor Craig Accardo Receives $100K-$500K Complaint

An investor complaint against Metairie, Louisiana financial advisor Craig Accardo (CRD# 3000762) recently settled for $3.5 million. Financial Industry Regulatory Authority records show that the FSC Securities Corporation broker and investment advisor is involved in another investor complaint alleging his conduct resulted in six-figure damages.

Mr. Accardo’s BrokerCheck report discloses two investor complaints. The most recent, filed in October 2022, alleges that as a representative of FSC Securities Corporation, he recommended unsuitable investments that resulted in losses. The pending complaint alleges damages between $100,000 and $500,000.

A second investor complaint, filed in 2019, alleged that as an FSC Securities Corporation representative, he recommended unsuitable variable annuity and real estate investments. In 2020 the complaint reached a settlement of $3,500,000.

In a statement included with the 2019 complaint’s disclosure, Mr. Accardo wrote that the complaint was settled by the firm against his wishes and that he was confident it would have prevailed if it had proceeded to a hearing. “I did not contribute any money, nor was I asked to contribute any money, to the settlement of this case,” he stated further. “I remain confident these investments were suitable given the clients’ investment objectives and financial profiles and the documentation would have proven that. Some of the people in the case were not even my clients. I believe the size of the settlement was due to the aggressive marketing campaign by the opposing attorneys.”

According to the Financial Industry Regulatory Authority, Craig Accardo holds 24 years of securities industry experience. Based in Metairie, Louisiana, he has been a broker and an investment advisor with FSC Securities Corporation since 2004. He was previously registered with InterSecurities in St. Petersburg, Florida from 1998 until 2004. His credentials include the passage of four 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; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Louisiana, Mississippi, Ohio, and Texas. (Information current as of December 17, 2022.)

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