Joseph Candela: $300K Complaint Against Troy, Michigan Advisor

Charles Schwab financial advisor Joseph Candela III (CRD# 4704815) recently received an investor complaint alleging his recommendations led to six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Troy, Michigan. He was previously a representative of JP Morgan Securities in Birmingham, Michigan. 

Mr. Candela’s BrokerCheck report discloses one investor complaint. Filed in March 2022, it alleges that as a representative of Charles Schwab, he “recommended an investment strategy that was not in the client’s best interest.” For reference, FINRA rules require brokers to recommend investments and strategies that are suitable for a customer’s background and objectives, based on reasonable due diligence. The pending complaint alleges damages of $300,000.

According to the Financial Industry Regulatory Authority, Joseph Candela holds 18 years of securities industry experience. Based in Troy, Michigan, he has been a broker and an investment advisor with Charles Schwab & Company since 2019. His past registrations include JP Morgan Securities (Birmingham, Michigan; 2015-2019), Merrill Lynch (Auburn Hills, Michigan; 2009-2015), Banc of America Investment Services (Detroit, Michigan; 2008-2009), LaSalle Financial Services (Troy, Michigan; 2008), Morgan Stanley & Company (Grosse Pointe Farms, Michigan; 2007-2008), and Morgan Stanley (Grosse Pointe, Michigan; 2004-2007). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Michigan, New York, North Dakota, Ohio, Pennsylvania, Virginia, and Washington. (Information current as of August 29, 2022.)

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