Haselkorn & Thibaut has opened an investigation into Iselin, New Jersey financial advisor Matt Sottile (CRD# 4774814) following a recent investor complaint alleging unsuitable investment recommendations that resulted in losses. The national investment fraud law firm, with over 50 years of experience and a 98% success rate, is examining the circumstances surrounding Mr. Sottile’s advisory practices and the denied complaint against him.
Understanding the Recent Investor Complaint
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In May 2025, an investor filed a complaint against Matt Sottile relating to his time as a representative at David Lerner Associates. The complaint alleged that Mr. Sottile recommended an unsuitable limited partnership investment, seeking damages of $52,000. While David Lerner Associates denied the complaint after their internal review, it’s important for investors to understand that a denial doesn’t necessarily mean the allegations lacked merit.
When a firm denies a complaint, it simply means they’ve determined not to accept liability based on their own investigation. Investors whose complaints are denied still have options to pursue recovery through other channels, including FINRA arbitration proceedings, where an independent panel can review the evidence and make determinations about liability and damages.
Matt Sottile’s Professional Background at Bravias Financial
Currently serving as a senior vice president at Bravias Financial, Matt Sottile has been registered as an investment advisor with the firm since 2018. According to regulatory records, Mr. Sottile brings 21 years of securities industry experience to his role, where he focuses on financial planning, insurance, and retirement planning services for clients.
His professional credentials include passing four securities industry qualifying examinations:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Before joining Bravias Financial, Mr. Sottile’s employment history includes registrations with Spirit of America Management Corporation and David Lerner Associates, where the complaint in question originated.
Red Flags Investors Should Consider
While one complaint doesn’t necessarily indicate a pattern of misconduct, investors should be aware of several factors when evaluating their relationship with any financial advisor:
| Red Flag | What to Watch For |
|---|---|
| Limited Partnership Investments | These complex products often carry high fees, limited liquidity, and may not be suitable for all investors |
| Suitability Concerns | Recommendations that don’t align with your risk tolerance, investment timeline, or financial goals |
| Denied Complaints | Even denied complaints warrant careful review of your investment strategy and holdings |
Understanding Your Rights Under FINRA Rule 2111
FINRA Rule 2111 requires that all investment recommendations must be suitable for the specific client. This fundamental investor protection means that before making any recommendation, financial advisors must conduct reasonable diligence to understand their client’s complete financial picture.
Key factors advisors must consider include:
- Your age and investment timeline
- Risk tolerance and comfort with market volatility
- Investment objectives (growth, income, preservation)
- Financial situation and needs
- Tax status and considerations
- Investment experience and knowledge
When advisors fail to properly assess these factors or recommend investments that don’t align with a client’s profile, they may be held liable for resulting damages.
What This Means for Current and Former Clients
If you’ve worked with Matt Sottile at Bravias Financial or during his time at David Lerner Associates, now is an appropriate time to review your investment portfolio and any recommendations you received. Pay particular attention to:
- Limited partnership investments in your portfolio
- Complex or illiquid investment products
- Investments that seemed inconsistent with your stated goals
- Any unexplained losses or underperformance
- High-fee products that may not have been adequately explained
Steps You Can Take to Protect Your Interests
Document everything related to your investment experience. Gather account statements, correspondence, notes from meetings, and any marketing materials you received. This documentation becomes crucial if you need to demonstrate that recommendations were unsuitable for your situation.
Consider having an independent review of your portfolio performed by a qualified professional who can assess whether your investments align with your stated objectives and risk tolerance. If discrepancies are found, you may have grounds for recovering losses through FINRA arbitration or other legal channels.
How Haselkorn & Thibaut Can Help
With over five decades of experience representing investors nationwide, Haselkorn & Thibaut has recovered millions of dollars for clients who suffered losses due to unsuitable investment recommendations. The firm operates on a contingency basis, meaning no recovery, no fee – you pay nothing unless they successfully recover compensation for your losses.
Their team understands the complexities of securities law and FINRA regulations, bringing a 98% success rate to investor claims. If you’ve experienced losses or have concerns about investments recommended by Matt Sottile or any other financial advisor, a free consultation can help you understand your options and potential for recovery.
Don’t wait to protect your financial future. The securities industry has strict time limits for filing claims, and delays can impact your ability to recover losses. Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation about your investment concerns and potential paths to recovery. Their experienced team at InvestmentFraudLawyers.com is ready to review your situation and help you understand your rights as an investor.
