Roderick Rodriguez: $50K Complaint Against Ex-Essex National Advisor

Bronx financial advisor Roderick Rodriguez (CRD# 2680445) allegedly over-concentrated assets in a customer’s account, according to a recent investor complaint. Financial Industry Regulatory Authority records indicate that he is currently registered as a broker and an investment advisor with Infinex Investments, having formerly been registered with Essex National Securities.

Mr. Rodriguez’s BrokerCheck report multiple investor complaints. The most recent, filed in March 2023, alleges that as a representative of Essex National Securities, he over-concentrated the client’s assets “into a single illiquid investment” involving a real estate product. The pending complaint alleges damages of $50,000.

An earlier investor complaint, filed in 2020, alleged that as a representative of Essex National Securities, he unsuitably recommended an investment in a real estate security. In 2021 the complaint reached a settlement of $55,000.

In a statement included with the complaint’s disclosure, Mr. Rodriguez wrote that he “respectfully” denied the allegation. “This client[’]s affiliation and initial recommendation was provided by another representative,” he added, “where I was subsequently assigned to assist the client with service by the firm and clients prompted request to have another representative assigned to the account.”

According to the Financial Industry Regulatory Authority, Roderick Rodriguez holds 26 years of securities industry experience. Based in the Bronx, New York, he has been a broker and an investment advisor with Infinex Investments since 2016 and 2020, respectively. His registration history includes Essex National Securities (Bronx, New York; 2010-2016), Citigroup Global Markets (New York, New York; 2016), LPL Financial Corporation (New York, New York; 2008-2010), IFMG Securities (Bronx, New York; 2003-2008), Invest Financial Corporation (Appleton, Wisconsin; 1998-2003), Gruntal & Company (New York, New York; 1996-1998), First Albany Corporation (New York, New York; 1996), and Gruntal & Company (New York, New York; 1996). His credentials include the passage of four securities industry qualifying exams: 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 Florida, Massachusetts, New Jersey, New  York, North Carolina, Puerto Rico, and Virginia. (Information current as of April 8, 2023.)

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