Chris Russo, a seasoned financial advisor based in Westbury, New York, recently caught the public eye after an investor complaint was lodged against him over investments in GWG Holdings and GPB Capital. Known for his vast experience spanning 27 years in the securities industry, Russo is currently affiliated with B. Riley Wealth Management. His operations, however, go under the umbrella of Worldwide Wealth Group.
Chris Russo’s Sketchy BrokerCheck History
Russo’s BrokerCheck record is not devoid of controversy. A handful of investor complaints are associated with his name. The latest grievance landed this year, in June 2023, with claims that Russo, in his capacity as a representative of National Securities Corporation, recommended unfit investments in GWG Holdings and GPB Capital. The complaint, which is still ongoing, cites unspecified damages estimated to be over $5,000.
Russo’s Earlier Investor Complaints
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Taking a step back to 2020, another investor lodged a complaint against Russo. The allegation also sprung from his tenure with National Securities Corporation, where he supposedly endorsed an unfit private placement. By 2021, this complaint reached a resolution via a settlement worth $25,000. Russo mentioned within the complaint disclosure that he was not the broker of record nor was he implicated in the complaint.
A Blast From Russo’s Past
A nostalgic trip to 2003 uncovers another tarnish on Russo’s record. As a representative of Continental Broker-Dealer Corporation, he was accused of conducting unauthorized trading. This grievance was settled for $3,593.54.
Plummeting Deeper Into Chris Russo’s Professional Background
A glance at Russo’s background, supplied by the Financial Industry Regulatory Authority, provides an insight into his experience and career progression. As mentioned, Russo has been aligned with B. Riley Wealth Management since July 2022, while operating under the banner of Worldwide Wealth Group.
Before this, Russo was registered with several institutions including:
- National Securities Corporation (Westbury, New York; 2007-2022)
- Gunnallen Financial (Westbury, New York; 2003-2007)
- Continental Broker-Dealer Corporation (Carle Place, New York; 1997-2003)
- Sterling Foster & Company (Uniondale, New York; 1996-1997)
Chris Russo’s Credentials
Russo’s credentials include passing three securities industry qualifying exams, namely the General Securities Representative Examination (Series 7), the Securities Industry Essentials Examination (SIE), and the Uniform Securities Agent State Law Examination (Series 63). His repertoire also comprises 46 state licenses. (This information is effective as of September 25, 2023.)
Legal Recourse for Investors
If you, a friend, or a family member have faced investment losses, you should be aware that options exist for legal recourse against financial advisors or investment firms. Haselkorn & Thibaut specialize in defending investors throughout the United States in such cases. You can reach out at 1-800-856-3352 or through our contact form for a free and confidential consultation.
Remember that you are not alone in your grievance. Leveraging the legal system allows you to take accountable those who may not have acted in your best interest. Seeking compensation provides a form of relief and deters future misconduct.
