Ricardo Dacosta: Suitability Complaint Against Align Wealth Advisor

Iselin, New Jersey financial advisor Ricardo Dacosta (CRD# 5648774) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Align Wealth Group.

Mr. Dacosta’s BrokerCheck report discloses one investor complaint. Filed in May 2026, it alleges that as a representative of LPL Financial, he recommended unsuitable transactions in the customer’s retirement account. The pending complaint alleges damages of $45,189. A statement included with the complaint’s disclosure reads, “In 2026, Advisor paid client $44,500 in two separate payments to resolve complaint alleging unsuitable transactions in retirement account.”

Investors should be aware that Rule 15l-1(a)(1) of the Securities and Exchange Act of 1934, also known as Regulation Best Interest, requires advisors like Mr. Dacosta to recommend only investments and strategies that are in their clients’ best interests. The rule states specifically that firms and their representatives must “act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer.” This rule is similar to FINRA’s suitability rule, which requires brokers to recommend investments that are in line with their customers’ background and objectives.

According to the Financial Industry Regulatory Authority, Ricardo Dacosta holds 17 years of securities industry experience. Based in Iselin, New Jersey, he has been registered as a broker and an investment advisor with LPL Financial since 2021, doing business as Align Wealth Group. His past registrations include Cetera Investment Services and Foresters Financial Services. His credentials include the passage of seven securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Municipal Fund Securities Principal Examination, or Series 51; and the General Securities Principal Examination, or Series 24. He holds 37 state licenses. (Information current as of June 6, 2026.)

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