Jason Doviak: $1 Million Complaint Against Park Avenue Advisor

Red Bank financial advisor Jason Doviak (CRD# 4266648) is involved in an investor complaint alleging his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Park Avenue Securities.

Mr. Doviak’s BrokerCheck report discloses one investor complaint. Filed in March 2023, it alleges that as a representative of Park Avenue Securities, he recommended an unsuitable purchase of an Allianz variable annuity. The pending complaint alleges damages of $1,000,000.

For reference, one of many important investor protections is FINRA’s suitability standard. As outlined in FINRA Rule 2111, this rule stipulates that brokers and firms must “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” Brokers who lack that reasonable basis, or who recommend transactions that aren’t suitable for their customers, are considered to have violated Rule 2111. Brokers who violate this rule may be held liable for damages and/or subject to disciplinary action by securities regulatory authorities.

According to the Financial Industry Regulatory Authority, Jason Doviak holds 19 years of securities industry experience. Based in Red Bank, New Jersey, he has been a broker and an investment advisor with Park Avenue Securities since 2004 and 2007, respectively. He was previously registered with Morgan Stanley DW in Purchase, New York from September until November 2003. His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He is licensed in Arizona, Florida, Georgia, Hawaii, New Jersey, New York, Pennsylvania, South Carolina, and Tennessee. (Information current as of March 26, 2023.)

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.