We are providing FREE consultations via PHONE or VIDEO conferencing for your safety and convenience. Read More!

A National Securities Arbitration & Investment Fraud Law Firm

Broker Matthew Platnico Faces Allegations Of $1.46M Unauthorized Trading

Broker Matthew Platnico (Matthew Eric Platnico CRD:#2102086) is a registered broker and investment advisor currently employed with Allied Millennial Partners, LLC (CRD#: 16569) of New York, NY. As an investment advisor he is registered with Millennial Advisers, LLC. (CRD#:170847), also of New York City.  His previous employers include Arete Wealth Management, LLC (CRD#:44856), Oppenheimer & Co. INC. (CRD#:249), also of New York City, and Advest, Inc. (CRD#:10), of Hartford, CT. He has been in the industry since 1991.  A client filed a dispute on 7/15/2020, alleging that Platnico representative engaged in unsuitable and unauthorized options trading in Claimant's account. The client requests damages of $1,460,000.00. The case is currently “pending.”Broker Matthew Platnico (Matthew Eric Platnico CRD:#2102086) is a registered broker and investment advisor currently employed with Allied Millennial Partners, LLC (CRD#: 16569) of New York, NY. As an investment advisor he is registered with Millennial Advisers, LLC. (CRD#:170847), also of New York City.

His previous employers include Arete Wealth Management, LLC (CRD#:44856), Oppenheimer & Co. INC. (CRD#:249), also of New York City, and Advest, Inc. (CRD#:10), of Hartford, CT. He has been in the industry since 1991.

A client filed a dispute on 7/15/2020, alleging that Platnico representative engaged in unsuitable and unauthorized options trading in Claimant’s account. The client requests damages of $1,460,000.00. The case is currently “pending.”

Two previous disputes were filed on 2/19/2019 and 2/22/2019, respectively. These disputes appear to be from the same client.

In the first claim, the client alleged that the strategy being used in his account was unsuitable, and was misrepresented to him. The client requested $265,627.73 in damages. This claim is still listed as pending.

In the second claim, the client claimed that he had not been contacted about closing out a “short” position, and the trading done on his account was unauthorized. The client requested damages of $95,690.00, and the firm settled for the same amount.

In both cases, Platnico’s rebuttal comment is that the client is a physician and a savvy investor. Matthew Platnico was instructed to close out several “short option” positions because of margin deficiencies. This client’s accounts were mistakenly traded along with others, but the client failed to notify Platnico for more than two weeks.

Did You Invest With Matthew Platnico?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.

Contact Information