Last Updated: October 2023 (Fort Lauderdale, FL)
Andrew Costa Investigation Summary
Here’s what you need to know about Fort Lauderdale, FL, stockbroker Andrew Costa:
- Name: Mr. Andrew Montgomery Costa
- Current Employer: Madison Avenue Securities, dba Global Private Wealth, Costa Capital
- Previous Firms: GF Investment Services
- Function: Stock Broker/ Financial Advisor
- Aliases: Andrew Costa
- Primary Location: Fort Lauderdale, FL
- CRD 4847063
- Can Andrew Costa be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Highest Settlement : $192,500
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Andrew Costa As Your Stockbroker?
Andrew Costa discloses 7 customer complaints, including the following:
In 2022 a customer of G.F. Investment Services was paid $192,500 to settle a FINRA arbitration which alleged that Andrew Costa made unsuitable recommendations to purchase alternative investments.
A similar case involving alternative investments resulted in a settlement of $35,000 to another customer of G.F. Investment Services.
Two customers of Madison Avenue Securities settled claims involving Andrew Costa and alleged unsuitable recommendations.
Allegations of Broker Misconduct Against Andrew Costa
Customers of Andrew Costa have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to purchase alternative investments
- Unsuitable Recommendation to purchase REITs
- Unsuitable Recommendation to purchase Woodbridge Notes
- Unsuitable Recommendation to purchase annities
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Andrew Costa, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
