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John Pisapia: $500K Complaint Against Chelsea Financial Advisor

A recent investor complaint against Staten Island financial advisor John Pisapia (CRD# 2336216) alleges that his investment advice resulted in damages of $500,000. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Chelsea Financial Services and Chelsea Advisory Services, respectively.

Mr. Pisapia’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2024, alleges that as a representative of Chelsea Financial Services, he sold an unsuitable promissory note. The pending complaint alleges damages of $500,000.

An earlier investor complaint, filed in 2002, alleged that as a representative of Royal Hutton Securities, he failed to uphold his supervisory responsibilities. The complaint reached a settlement of $2,000.

Chelsea Financial Services’ website includes a letter from Mr. Pisapia, who serves as CEO and President of the firm. “Chelsea Financial Services was conceived by a group of like minded, independent financial service professionals, committed to serving their clients by offering sound financial guidance or planning along with solid investment advice,” he writes. “As professionals, we will not tolerate or recognize any obligation to market the services or investment products produced by any single company. We understand what it means to seek out and offer only the best products or services available, without conflict or compromise and this is the same commitment we make to our representatives.”

According to the Financial Industry Regulatory Authority, John Pisapia holds 30 years of securities industry experience. Based in Staten Island, New York, he has been registered as a broker with Chelsea Financial Services since 2000 and an investment advisor with Chelsea Advisory Services since 2016. His credentials include the passage of 14 securities industry qualifying exams and is licensed in California, Georgia, New York, North Carolina, Oklahoma, Texas, and Wisconsin. (Information current as of June 22, 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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