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John Zaffarano: $185K Complaint Against Boca Raton Newbridge Advisor
Boca Raton financial advisor John Zaffarano (CRD# 6690551) has received an investor complaint alleging his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Newbridge Securities and Newbridge Financial Services Group, respectively.
Mr. Zaffarano’s BrokerCheck report discloses one investor complaint. Filed in April 2022, it alleges that as a representative of Newbridge Securities Corporation, he engaged in negligence, breached his fiduciary duty, breached contract, was negligent in his supervisory responsibilities, violated securities laws, and committed fraud in connection to alternative investments. The pending complaint alleges damages of $185,000.
For reference, the fiduciary standard stipulates that financial advisors must place their clients’ interests above their own, make full disclosures regarding any conflicts of interest, and operate in good faith and with loyalty to the customer. This is similar to but distinct from the suitability standard that requires brokers to recommend only investments that are appropriate for their client’s background and objectives.
According to the Financial Industry Regulatory Authority, John Zaffarano holds five years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with Newbridge Securities Corporation since 2016 and an investment advisor with Newbridge Financial Services Group since 2021. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 52 state licenses and is registered with two self-regulatory organizations (SROs), FINRA and the Nasdaq Stock Market. (Information current as of July 20, 2022.)
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.