Rick LaSpaluto: Centaurus Advisor Denies Suitability Complaint

Las Vegas, Nevada financial advisor Rick LaSpaluto (CRD# 2541603) recently received an investor complaint alleging that his advice resulted in losses. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Centaurus Financial, doing business as LaSpaluto Financial Planners.

Mr. LaSpaluto’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2024, alleges that as a representative of Centaurus Financial, he recommended unsuitable investments, breached his fiduciary duty, and mis-managed the customer’s account. The pending complaint alleges unspecified damages.

In a complaint included with the complaint’s disclosure, Mr. LaSpaluto denies the allegations, which he describes as meritless. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after her review of all material documentation related to the investment,” he writes, adding that the customer confirmed her understanding of the product’s risks and features. “At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

An earlier investor complaint, filed in 2011, alleged that as a representative of Centaurus Financial, he recommended an unsuitable investment, breached his fiduciary duty, breached contract, and violated FINRA rules as well as state and federal securities laws. The complaint reached a settlement of $90,818.92.

According to the Financial Industry Regulatory Authority, Rick LaSpaluto holds 29 years of securities industry experience. Based in Las Vegas, Nevada, he has been registered as a broker and an investment advisor with Centaurus Financial since 2005. His past registrations include Integrated Trading and Investments, SunAmerica Securities, Royal Alliance Associates, Linsco/Private Ledger, and Edward D. Jones. His credentials include the passage the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Colorado, Florida, Idaho, Illinois, Maine, Nevada, New Mexico, Pennsylvania, Texas, Utah, and Virginia. (Information current as of May 27, 2024.)

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