Joseph Medina: Complaints Against Medina Private Wealth Advisor

New York City financial advisor Joseph Medina (CRD# 2793924) recently received multiple investor complaints alleging he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is a broker with Newbridge Securities Corporation, doing business as Medina Private Wealth Management. 

Mr. Medina’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2021, alleges that as a representative of Cetera Advisors, he recommended unsuitable investments in variable annuity, real estate, and closed-end fund products. The pending complaint alleges unspecified damages of at least $5,000. A second investor complaint, filed in 2020, alleged that he recommended unsuitable variable annuity and direct investments. In 2021 the complaint reached a settlement of $19,000.

Chase Investment Services Corporation fired Mr. Medina in 2011, according to a disclosure on his  BrokerCheck report. His termination was in relation to allegations he lost the firm’s confidence after “multiple customer complaints.” In a statement on the disclosure, Mr. Medina wrote that he disputes the firm’s characterization that he had received multiple complaints. “I am aware of only two complaints while at Chase,” he continued. “One was resolved while I was at Chase. The second complaint arose after I left my former firm and was from an account that was once mine but had been re-assigned to another representative.”

According to the Financial Industry Regulatory Authority, Joseph Medina holds 22 years of securities industry experience. Based in New York City, he has been a broker with Newbridge Securities Corporation since 2020, doing business as Medina Private Wealth Management. His past registrations include Cetera Advisors, Gilford Securities, Chase Investment Services, Citicorp Investment Services, AXA Advisors, Dreyfus Service Corporation, Robert Thomas Securities, The J.B. Sutton Group, and Gaines Berland. His credentials include the passage of five 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; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Georgia, Minnesota, New Jersey, New York, and Texas. (Information current as of June 27, 2022.)

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