DID DONALD RAYMOND SAVAGALIA CAUSE YOU INVESTMENT LOSSES?
Donald Savaglia Of Osaic Wealth, Inc. and Formerly With Woodbury Financial Services, Inc. Has 2 Customer Complaints For Alleged Broker Misconduct
About Donald Savaglia of Osaic Wealth, Inc.?
Donald Savaglia (CRD #3106269) , currently registered with Osaic Wealth, Inc., showcases a history marked by frequent transitions between firms and a modest number of licensing qualifications. Registered with only one Self-Regulatory Organization and licensed in seven U.S. states and territories, Savaglia’s record includes a principal/supervisory exam and several industry/product exams. His history spans from roles at Woodbury Financial Services to Osaic Wealth, with registration starting recently in January 2024. Despite these credentials, Savaglia’s career is tainted by multiple customer disputes, suggesting potential issues with investment suitability and due diligence, reflecting poorly on his reliability as a financial advisor.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Donald Savaglia Customer Complaints and Reviews
Donald Savaglia’s professional conduct has been questioned in several instances, detailed as follows:
- Complaint at Cetera Advisor Networks LLC (Settled December 2023): Claimants alleged unsuitable investment recommendations and inadequate due diligence related to REIT investments, claiming damages of $50,000, which settled for $30,000. This dispute highlights concerns regarding Savaglia’s investment strategies and his ability to align with client needs.
- Complaint at Cetera Advisor Networks LLC (Settled May 2022): Another claim involved allegations of negligence, breach of fiduciary duty, and failure to supervise, with initial claims for damages of $100,000, settled for just $1,500. This case further complicates his professional reputation, underscoring serious accusations of mismanagement and lack of oversight.
Donald Savaglia Red Flags & Your Rights As An Investor
The allegations against Donald Savaglia include:
- Unsuitable Investments: Involved recommending investments that were not aligned with the clients’ objectives or risk tolerances.
- Inadequate Due Diligence: Failed to properly assess the investments before recommending them to clients.
- Negligence and Breach of Fiduciary Duty: Accusations point to a lack of care in managing client assets and not acting in the best interests of clients.
- Failure to Supervise: Indicates a lack of oversight and control in managing or supervising the investment process effectively.
These allegations paint a picture of a broker whose practices may not always align with client interests or industry standards, posing potential risks for future clients.
Donald Savaglia Red Flags & Your Rights As An Investor
Of course, Donald Savaglia did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Donald Savaglia at Osaic Wealth, Inc. and Woodbury Financial Services, Inc. on alert to review carefully the activity and performance of their accounts and question whether Donald Savaglia has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Osaic Wealth, Inc. and Woodbury Financial Services, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Osaic Wealth, Inc. Due To Donald Savaglia
If you have questions about Osaic Wealth, Inc., Woodbury Financial Services, Inc. and/or Donald Savaglia and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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