Haselkorn & Thibaut has recently opened an investigation into financial advisor James Dennis Defelice (CRD# 6540511) and his longtime employer, Equitable Advisors, LLC, headquartered in New York, NY. If you are an investor who has worked with James Dennis Defelice or have questions about your investments with Equitable Advisors, read on for an in-depth analysis designed to keep you fully informed—and empowered to take next steps for your financial future.
Who Is James Dennis Defelice?
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James Dennis Defelice is a registered financial advisor and broker with an active license through FINRA. He’s been working in the investment and financial services industry for a full decade—all of it with Equitable Advisors, LLC, located at 1290 Avenue of the Americas, 4th Floor, New York, NY. This exclusive tenure with a single firm is notable for its stability and loyalty, characteristics that many investors value in an advisor.
| Advisor Name | James Dennis Defelice |
|---|---|
| CRD Number | 6540511 |
| Primary Firm | Equitable Advisors, LLC (New York, NY) |
| Years of Experience | 10 |
| Licenses | Active in 20 states |
| Registrations | Broker & Investment Adviser |
| Disclosures | 1 (Denied Customer Complaint) |
Advisor Background and Experience
- Tenure: 10 years, all at Equitable Advisors, LLC
- Broker Registration: Since October 8, 2015
- Investment Adviser Registration: Since June 23, 2017
- Multistate Licensing: Licensed in 20 states, including major markets such as California, Florida, Texas, and New York
- Regulatory Actions: No history of regulatory violations, fines, or employment terminations
The combination of dual registration and multi-state licensing allows James Dennis Defelice to offer a diverse range of services to a broad client base. These attributes provide him—and, by extension, his clients—with flexibility and legitimate authority to operate across the country.
Complete List of Disclosures and Complaints
Investors want transparency. Here’s a full rundown of the complaints and disclosures reported for James Dennis Defelice (as sourced from FINRA BrokerCheck and internal databases):
| Date | Nature | Status | Description | Amount Requested | Resolution |
|---|---|---|---|---|---|
| November 1, 2024 | Customer Dispute | Denied | Allegation: Client claimed the registered representative misrepresented fees and terms related to a Variable Universal Life insurance policy purchased in 2023. | $5,000 | Denied by Equitable Advisors. The firm’s investigation concluded no basis for the claim (January 6, 2025). |
- Total Disclosures: 1
- Pending Cases: None (all resolved, denied)
- Settled Amount Paid: $0
As of this report’s date, no additional customer complaints, arbitrations, regulatory, criminal, or disciplinary actions have been found tied to James Dennis Defelice. The sole complaint involved a relatively modest amount and was thoroughly reviewed and ultimately declined by his firm.
Risk Factors and Key Takeaways for Investors
- Long-term Stability: Remaining with one firm for a full decade can be considered a sign of professionalism and stability, which investors may interpret as a positive signal.
- Dual Broker/Advisor Status: Being both a broker and an investment adviser means James Dennis Defelice is held to multiple industry standards and obligations.
- Disclosure Record: Only one complaint exists, pertaining to a complex insurance product. Such products—Variable Universal Life (VUL) insurance—are well known for fee complexity and occasional misunderstandings by clients. While the complaint was not found to have merit, prospective investors should consider their comfort level with such products and ask any advisor for full, clear explanations.
- No Pattern of Misconduct: There is no history of “red flag” behaviors such as high settlement amounts, repeated complaints, or regulatory fines. The complaint against Defelice was recent and appears isolated.
- Category of Concern: While any customer dispute should prompt thoughtful review, the denial by Equitable Advisors and absence of regulatory actions or employment interruptions suggests a low overall risk profile. Still, it’s wise to stay informed and proactive with your investment choices.
What Should You Do Next If You Are an Investor?
If you worked with James Dennis Defelice or purchased an investment or insurance product (such as VUL policies) through Equitable Advisors in New York or any of the 20 licensed states, consider taking these steps:
- Review your investment statements and policy documents. Pay close attention to any fees, surrender penalties, or terms that you may not fully understand.
- Ask for clarification on confusing details. Financial products like Variable Universal Life insurance are intricate, and clear documentation is critical. If you suspect you were not given all the facts up front, or if you feel fees or risks were minimized in the sales discussion, you may benefit from a confidential review.
- Don’t wait until a loss is realized. Many investors wait too long before seeking a professional opinion—acting early could help you better protect your interests.
Haselkorn & Thibaut Can Help—Start With a Free Consultation
Haselkorn & Thibaut is a national law firm with more than 50 years of combined experience in investment fraud matters, a documented 98% success rate, and millions recovered for clients. If you have concerns about advice or products sold by James Dennis Defelice of Equitable Advisors, LLC (New York, NY), or about any complex insurance policies like Variable Universal Life, you are invited to take advantage of a free confidential consultation.
No recovery, no fee. You only pay if we recover money for you.
Call 1-888-885-7162 today to speak with a knowledgeable investment fraud attorney at Haselkorn & Thibaut, or visit investmentfraudlawyers.com. Protect your investment—get answers and peace of mind.
