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State Files Complaint Against Boca Money Manager

State regulators claim that a Boca Raton money manager happened to give a janitor together with his wife wrong investment advice. As a result, the couple ended up losing almost all of their $70,000 investment. The manger is the host of a financial radio show.

The office in charge of Financial Regulations in Florida claims that Peter Bruno, who is a member of the Wall Street Management Group made investment suggestions to couple in question which led them to lose 96% of the liquid savings they had. In the end, the couple was left with just $3,073. The investment was initially intended for a Nest Egg Strategy account that was meant to be conservative.

Regulators stated that Bruno implemented a risky trading strategy in which the couple ended-up buying stock in a long-troubled Washington Mutual around ten months before the biggest U. S. loan and savings went down due to the recession, which occurred back in 2008.

Read more about this here:
http://articles.sun-sentinel.com/2013-10-07/business/fl-money-manager-charged-20131007_1_state-regulators-washington-mutual-retirement-age

Gregory Tendrich, PA
Gregory Tendrich, P.A. serves clients throughout Florida, including the cities of West Palm Beach, Palm Beach, Delray Beach, Boynton Beach, Boca Raton, Port St. Lucie, Lake Worth, Wellington, Riviera Beach, Palm Beach Gardens, Fort Pierce, Vero Beach, Hobe Sound, Jupiter Island, North Palm Beach, Lake Park, Lantana, Stuart, Palm City, Jensen Beach, Tequesta and Juno Beach and represents clients in Palm Beach County, Martin County, St. Lucie County, Indian River County and throughout Florida.

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