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Joanne Farace: David Lerner Advisor Faces $100K Energy Fund Complaint
A recent investor complaint against Lawrenceville, New Jersey financial advisor Joanne Farace (CRD# 4837013) alleges that she provided unsuitable investment advice that resulted in six-figure damages. Financial Industry Regulatory Authority records show that she is a broker registered with David Lerner Associates.
Ms. Farace’s BrokerCheck report discloses one investor complaint. Filed in October 2023, it alleges that as a representative of David Lerner Associates, she misrepresented material facts, made omissions of material facts, and recommended unsuitable investments in Energy 11 and Energy 12 funds. The pending complaint alleges damages between $100,000 and $500,000.
Investors should be aware that FINRA Rule 2020 stipulates that financial advisors at FINRA broker-dealer firms may not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” What this means is that brokers may not misrepresent material information—that is, information posing a significant consideration for investors considering a product or strategy—relevant to their recommendations. Brokers who misrepresent investments may be held liable in the event of losses.
According to the Financial Industry Regulatory Authority, Joanne Farace holds 19 years of securities industry experience. Based in Lawrenceville, New Jersey, she has been a broker with David Lerner Associates since 2004. Her credentials include the passage of four securities industry qualifying examinations: the Assistant Representative-Order Processing Qualification Exam, or Series 11; 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. She is licensed in Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Maryland, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, South Dakota, Texas, and Virginia. (Information current as of November 6, 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.