Frank Chiodi Jr.: Did Precision Advisor Misrepresent REIT?

Scarsdale financial advisor Frank Chiodi Jr. (CRD# 3189448) recently received an investor complaint alleging his advice resulted in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Royal Alliance Associates, doing business as Precision Wealth Solutions.

Mr. Chiodi’s BrokerCheck report discloses one investor complaint. Filed in May 2023, it alleges that as a representative of Royal Alliance Associates, he misrepresented material facts relating to an unsuitable real estate investment trust product. The pending complaint alleges unspecified damages.

As his profile on Precision Wealth Solutions’ webpage states, Mr. Chiodi Jr. is the firm’s president, and specializes in providing services to law enforcement officers and first responders. “I strive to assist my clients with investment management, retirement planning, and many other aspects of financial services while also managing the firm as a whole,” he writes, adding further: “While there are many attractive features of working in a job I am passionate about, I most enjoy working with law enforcement because they are on the front line each and every day. In light of that, helping them achieve peace of mind is very gratifying for me. I strive to be readily available to all of my clients and I consistently practice a strong understanding of their individual needs.”

According to the Financial Industry Regulatory Authority, Frank Chiodi Jr. holds 24 years of securities industry experience. Based in Scarsdale, New York, he has been a broker and an investment advisor with Royal Alliance Associates since 2021, doing business as Precision Wealth Solutions. His past registrations include Voya Financial Advisors (Scarsdale, New York; 2003-2021), Waddell & Reed (Overland Park, Kansas; 2001-2003), and Signator Investors (Boston, Massachusetts; 1999-2001). His credentials include the passage of five securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the Corporate Securities Limited Representative Examination, or Series 62; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in California, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Louisiana, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Virginia. (Information current as of June 18, 2023.)

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