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Vincent Grucci: FINRA Investigates Ocean Ridge Advisor
Fortune Financial Services advisor Vincent Grucci (CRD# 1602600) allegedly made misrepresentations and unsuitable recommendations, according to a recent Financial Industry Regulatory Authority investigation. FINRA records show that he is a broker based in Ocean Ridge, Florida.
According to a disclosure on Mr. Grucci’s BrokerCheck report, FINRA made a preliminary determination in September 2022 to recommend disciplinary action against him. The disciplinary action would allege violations of material misrepresentations and omissions, the unsuitable recommendation of exchange variable annuities, and failure to comply with the written policies and procedures of his member firm, Fortune Financial Services. The action remains pending.
Mr. Grucci’s BrokerCheck report also discloses one investor complaint. Filed in 2020, it alleged that as a representative of Fortune Financial Services, he recommended an unsuitable variable annuity investment. In February 2022 the complaint reached a settlement of $40,000.
According to the Financial Industry Regulatory Authority, Vincent Grucci holds 32 years of securities industry experience. Based in Ocean Ridge, Florida, he has been a broker with Fortune Financial Services since 2012. His past registrations include Keystone Capital Corporation (Ocean Ridge, Florida; 2014-2015), National Planning Corporation (Hauppage, New York; 2009-2012), North Ridge Securities Corporation (Melville, New York; 2000-2008), Northeast Securities (Mitchelfield, New York; 1997-2000), Jaron Equities Corporation (Hicksville, New York; 1996), First Montauk Securities (Red Bank, New Jersey; 1992-1996), and Educators Financial Management (1989-1992). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Connecticut, the District of Columbia, Florida, Georgia, Indiana, Minnesota, New Hampshire, New York, North Carolina, South Carolina, Texas, and Wisconsin. (Information current as of September 28, 2022.)
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