Robert D’Agosta: Suitability Allegations Against Center Valley Advisor

Liverpool, New York financial advisor Robert D’Agosta (CRD# 1903105) has received multiple investor complaints, including one that reached a settlement of $500,000. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with IBN Financial Services, where he is also registered with the firm’s office in Center Valley, Pennsylvania.

Mr. D’Agosta’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2022, alleged that as a representative of Berthel Fisher & Company Financial Services, he recommended unsuitable investments whose risks he misrepresented and/or omitted. In August 2022 the complaint reached a settlement of $25,000.

An earlier investor complaint, filed in 2020, alleged that as a representative of Berthel Fisher & Company Financial Services, he “made a series of recommendations of illiquid, high-commission investments from 2005 to 2014 which were unsuitable and resulted in over-concentration in these products.” In February 2022 the complaint reached a settlement of $26,000.

A third investor complaint, filed in 2017, alleged that as a representative of Berthel Fisher & Company Financial Services, he misrepresented and recommended unsuitable investments, including oil and gas securities and a business development company. In 2019 the complaint reached a settlement of $500,000.

A fourth investor complaint, filed in 2015, alleged that he made unauthorized transactions, misrepresented material facts, and recommended unsuitable trades. The complaint evolved into an arbitration proceeding before a FINRA panel, which in 2018 issued an award to the customer of $200,000. 

According to the Financial Industry Regulatory Authority, Robert D’Agosta holds 32 years of securities industry experience. Based in Liverpool, New York and Center Valley, Pennsylvania, he has been a broker and an investment advisor with IBN Financial Services since 2019. His past registrations include Berthel Fisher & Company (Center Valley, Pennsylvania; 2004-2019), MONY Securities Corporation (New York, New York; 1990-2004), the Mutual Life Insurance Company of New York, and Martin Financial Planning. His credentials include the passage of six securities industry qualifying exams: the Direct Participation Programs Representative Examination, or Series 22; 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; 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, Delaware, Florida, Georgia, Minnesota, New Jersey, New York, Pennsylvania, South Carolina, Texas, and Wisconsin. (Information current as of September 26, 2022.)

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