Peter Maniscalco: $300K Complaint Against Avantax Advisor

Staten Island financial advisor Peter Maniscalco (CRD# 4435025) allegedly recommended an unsuitable investment, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Avantax Investment Services and Avantax Advisory Services, respectively. He is also the President of Maniscalco & Picone CPAs.

Mr. Maniscalco’s BrokerCheck report discloses one investor complaint. Filed in December 2023, it alleges that as a representative of Avantax Investment Services, he recommended an unsuitable mutual fund purchase that resulted in a loss. The pending complaint alleges damages of $300,000.

Maniscalco & Picone CPAs’ website notes that Mr. Maniscalco is the firm’s founder. “Peter has been affiliated with Avantax since 2001 and currently has Avantax Elite status,” it states. “Throughout his career he has been on the management teams of many Staten Island non-profit groups and has given his time to numerous charitable organizations.” The firm’s “Mission” page, meanwhile, states that it works to understand its customers’ financial conditions and goals. “We understand the challenges families face today,” it explains. “Managing debt, saving for college and retirement, can be very overwhelming.  Our commitment is to assist you in finding a solution which fits your personal needs.”

According to the Financial Industry Regulatory Authority, Peter Maniscalco holds 22 years of securities industry experience. Based in Staten Island, New York, he has been a broker with Avantax Investment Services since 2001 and an investment advisor with Avantax Advisory Services since 2021. His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; 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. He is licensed in Arizona, California, Colorado, Connecticut, Florida, Georgia, Massachusetts, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia, and Washington. (Information current as of January 21, 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.