Tony Navarro: FINRA Suspends NFSG, Ex-IFG Advisor

San Diego, California financial advisor Tony Navarro (CRD# 2250454) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Independent Financial Group broker is currently registered as an investment advisor with NFSG Corporation.

A Letter of Acceptance, Waiver, and Consent (No. 2023078727501) describes FINRA’s disciplinary action against Mr. Navarro. Filed in May 2025, it states that he participated in unapproved private securities transactions, improperly borrowed funds from customers, and “provided a partial and misleading response to FINRA.” The alleged private securities transactions involved an alternative energy company which he recommended to five customers, who invested a total of $87,500 in it. “. In July 2022, the company filed for bankruptcy and none of the investors received their money back,” the Letter states, adding that Mr. Navarro “falsely represented” to one of his member firms that he did not sell investments away from his member firm.

As for the improper borrowing, the Letter alleges that he borrowed a sum of $80,000 from two firm customers through his outside tax preparation business. Though he timely repaid both loans with interest, according to FINRA, he falsely represented to his firm that he did not take them. As a result of these findings, FINRA suspended Mr. Navarro for a period of 12 months and ordered him to pay a fine of $20,000.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Tony Navarro holds 31 years of securities industry experience. Based in San Diego, California, he has been registered as an investment advisor with NFSG Corporation since May 2024. His past registrations include Independent Financial Group, LPL Financial, Mutual Service Corporation, Brookstreet Securities Corporation, Securities West, and Fortis Investors. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California. (Information current as of May 19, 2025.)

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