Haselkorn & Thibaut Opens Investigation: Salvadore Robert Salvo, Purshe Kaplan Sterling Investments, Parsippany NJ
If you are an investor concerned about your experience with Salvadore Robert Salvo (CRD #409637) of Purshe Kaplan Sterling Investments and Summit Financial, LLC in Parsippany, New Jersey, you are not alone. Haselkorn & Thibaut, a national securities fraud law firm with a 98% success rate and over 50 years of combined legal experience, has opened an investigation into this advisor’s conduct and potential investor damages.
Our firm is now offering free, confidential consultations for investors who may have suffered losses working with Mr. Salvo. If you have questions or concerns about your portfolio or the recommendations made, please call us at 1-888-885-7162 for a no-obligation review of your situation.
| Advisor Name | CRD Number | Broker-Dealer | Investment Adviser | Location |
|---|---|---|---|---|
| Salvadore Robert Salvo | 409637 | Purshe Kaplan Sterling Investments | Summit Financial, LLC | Parsippany, NJ |
Who Is Salvadore Robert Salvo?
Salvadore Robert Salvo is a registered stockbroker and investment adviser representative based in Parsippany, NJ. Mr. Salvo has been with Purshe Kaplan Sterling Investments since September 2018 and affiliated with Summit Financial, LLC as an investment adviser since January 2019, both at 4 Campus Drive, Parsippany.
His past affiliations include Summit Equities, Inc., Summit Financial Resources, Inc., MML Investors Services, Inc., Massachusetts Mutual Life Insurance Company, and CG Equity Sales Company, among others.
Key Licenses:
– Series 24
– Series 7TO
– SIE
– Series 1
– Series 63
Mr. Salvo is currently registered with FINRA and holds licenses across numerous states and territories.
Summary of Allegations and Complaints
While no regulatory enforcement actions or disciplinary history from FINRA, the SEC, or state agencies have been reported against Salvadore Robert Salvo, the most relevant concern for investors is the list of customer disputes and arbitration matters that have arisen in recent years. Here is a detailed breakdown of each reported issue:
- Pending Arbitration — Alleged Captive Insurance Fraud (August 2025): Clients allege Mr. Salvo and Summit Financial were negligent, made misrepresentations and omissions, and breached fiduciary and contractual duties by referring them to a third-party captive insurance company that subsequently committed fraud. Claimed damages: $784,000.
- Pending Customer Complaint — Advisory Account Transfer (July 2025): Allegations of failures relating to an in-kind transfer and failure to uphold fiduciary responsibilities in an advisory account. Claimed damages: $508,000.
- Past Settlement — FINRA Arbitration (Case No. 10-04308, January 2013): This matter was resolved with a payment of $87,500. The allegations included unsuitable recommendations, material misrepresentations, and failure to disclose material facts regarding insurance and managed accounts.
Total Damages Sought in Pending Customer Disputes: $1,292,000
Alleged Types of Broker Misconduct:
– Unsuitable investment recommendations
– Breach of fiduciary and best interest obligations
– Misrepresentation or omission of key facts
– Negligence
– Failure to supervise
FINRA and Regulatory Background Check
According to Salvadore Salvo’s FINRA BrokerCheck report:
- No regulatory actions or FINRA disciplinary history
- No SEC orders or administrative proceedings
- No state-level enforcement actions or civil lawsuits
- No adverse media coverage or criminal records
Despite the lack of disciplinary actions, the customer dispute history is significant and may raise red flags for potential investors.
Overview Table of Complaints and Outcomes
| Date | Type | Allegations | Status | Amount |
|---|---|---|---|---|
| August 2025 | Arbitration (AAA) | Negligence, misrepresentation, breach of fiduciary and contractual duty — referral to third-party captive insurance | Pending | $784,000 |
| July 2025 | Customer Complaint | Failures related to in-kind transfer and fiduciary duty (advisory account) | Pending | $508,000 |
| January 2013 | FINRA Arbitration | Unsuitable recommendations, misrepresentation, failure to disclose (insurance/managed accounts) | Settled | $87,500 |
What Does This Mean for You as an Investor?
Even in the absence of regulatory sanctions, multiple customer claims and settlements can be a warning sign. Such claims raise questions about the suitability of investment recommendations, accuracy of disclosures, and overall adherence to the fiduciary standard expected of financial advisors.
You may have grounds to pursue recovery for investment losses if you have:
- Received unsuitable recommendations inconsistent with your risk tolerance or objectives
- Experienced losses due to misrepresentation or lack of disclosure
- Suffered damages resulting from breaches of fiduciary or contractual duty
Next Steps: Take Action with Haselkorn & Thibaut
With significant pending customer disputes totaling over $1.2 million in alleged damages, plus a prior settlement, we believe it is vital for concerned investors to carefully review their accounts and consult with a trusted professional.
If you have any concerns about how your investments were handled by Salvadore Robert Salvo at Purshe Kaplan Sterling Investments or Summit Financial in Parsippany, NJ, Haselkorn & Thibaut is here to help.
Why choose Haselkorn & Thibaut?
– 50+ years’ securities law experience
– 98% success rate in investor recovery matters
– Offices nationwide, representing clients in all 50 states
– No recovery, no fee — consult with us without risk
Speak with an experienced attorney today for a FREE, confidential consultation.
Call 1-888-885-7162
Or visit the official FINRA BrokerCheck page for Salvadore Robert Salvo: BrokerCheck Profile
You do not need to navigate this process alone. If you have concerns or losses tied to Salvadore Robert Salvo, act now—schedule your complimentary review with Haselkorn & Thibaut and learn about your options for possible recovery.
