March, 2025 | Based in Dublin, OH
Need answers about your investments with Anthony Mampieri? Call 800-950-6553 or complete our online form to schedule your free case evaluation and learn your options for recovery.
Important Information About Anthony R. Mampieri
- Full Name: Anthony R. Mampieri
- CRD Number: 1653703
- Current Location: Dublin, Ohio
- Current Employers: Wells Fargo Advisors and Wells Fargo Advisors Financial Network, LLC
- Office Address: 6767 Longshore Street, Dublin, OH 43017
- Registration Status: Currently registered with FINRA and 11 U.S. states/territories
- State Licenses: Florida, Georgia, Illinois, Maryland, Michigan, Nevada, New York, Ohio, Pennsylvania, South Carolina, Virginia
- Experience: In the industry since 1987
- FINRA BrokerCheck: 2 customer disputes
- Previous Employers: Morgan Stanley (2010-2023), Robert W. Baird & Co. (1998-2010)
- Other Business Activities: Owns Mampieri Financial Services, LLC and a rental property in Boca Raton, FL
Detailed Investigation into Anthony Mampieri’s Investment Activities
Our securities attorneys are currently investigating investment recommendations and sales practices of financial advisor Anthony R. Mampieri (CRD# 1653703), who currently operates through Wells Fargo Advisors and Wells Fargo Advisors Financial Network, LLC in Dublin, Ohio. Mampieri recently moved to Wells Fargo in October 2023 after spending more than a decade at Morgan Stanley.
The investigation centers on Mampieri’s recommendation and handling of complex investment products, particularly structured products, which led to a significant customer dispute that resulted in a $110,000 settlement. Structured products often carry hidden risks and complexities that many retail investors struggle to fully understand, making proper disclosure and suitability determinations critically important.
More recently, Mampieri faced a $7.7 million complaint alleging that client accounts “were not managed in her best interests” between 2010 and 2023 during his time at Morgan Stanley. While this complaint was ultimately denied by the firm, the substantial amount and serious allegations warrant further scrutiny.
Structured Products: Complex Investments with Hidden Risks
The settled complaint against Mampieri involved allegations of unsuitable recommendations related to structured products between 2011 and 2016. Structured products are complex financial instruments typically issued by financial institutions and combine multiple underlying assets or derivatives to offer customized risk-return profiles.
These investments often present significant challenges for retail investors due to:
- Complex Structures: Many structured products combine multiple financial instruments, making them difficult to understand and evaluate.
- Lack of Transparency: The pricing and actual risk-reward structure is often opaque, with the true costs hidden within the product’s structure.
- Liquidity Constraints: Most structured products have limited or no secondary market, meaning investors may be unable to sell before maturity or may face significant penalties for early redemption.
- Credit Risk: Investors are exposed to the issuer’s credit risk. If the financial institution issuing the structured product faces financial difficulties, investors could lose their principal.
- Complex Payoff Structures: Many feature conditional payoffs that depend on multiple factors or benchmarks, making it difficult for average investors to assess the actual likelihood of various outcomes.
The 2016 arbitration claim against Mampieri alleged damages of $891,245.77 related to unsuitable structured product investments. While the firm ultimately settled for $110,000, this raises important questions about whether these complex products were appropriate for the clients’ investment objectives, risk tolerance, and financial situation.
The Recent $7.7 Million Complaint
In December 2024, Mampieri faced a substantial complaint alleging that client accounts “were not managed in her best interests” over a 13-year period from 2010 to 2023. The complaint sought $7.7 million in damages.
While Morgan Stanley ultimately denied this complaint in February 2025, several aspects of this situation warrant attention:
- Scope and Duration: The complaint covered a lengthy 13-year period, suggesting potentially systemic issues rather than isolated incidents.
- Nature of Allegations: Claims that accounts were not managed in a client’s best interest strike at the core fiduciary responsibilities of financial advisors.
- Damage Amount: The substantial damage claim of $7.7 million indicates potentially significant financial harm to the complainant.
- Timing of Complaint: The complaint was filed shortly after Mampieri’s departure from Morgan Stanley to Wells Fargo, raising questions about whether the client’s concerns related to this transition.
It’s important to note that while the firm denied the complaint, this denial does not necessarily mean no wrongdoing occurred. Firms sometimes deny complaints for various reasons, including limitations in their internal review processes or strategic business decisions.
Red Flags and Concerning Patterns
Our investigation has identified several areas of potential concern in Mampieri’s practice:
- Complex Product Recommendations: The structured product complaint suggests a pattern of recommending complex investments that may not have been suitable for all clients.
- Recent Firm Change: Mampieri’s move from Morgan Stanley to Wells Fargo in October 2023 occurred shortly before the $7.7 million complaint was filed in December 2024. While advisors change firms for many legitimate reasons, transitions sometimes occur when advisors face increasing scrutiny at their current firm.
- Multiple Business Entities: Mampieri’s involvement with Mampieri Financial Services, LLC, while employed by Wells Fargo, creates potential conflicts of interest and raises questions about adequate disclosure to clients.
- Supervisory Qualification: Mampieri holds a Series 8 license (General Securities Sales Supervisor), indicating he has served in a supervisory capacity. This places additional responsibility on him to understand and adhere to securities regulations.
- Long Industry Tenure: With over 35 years in the industry, Mampieri is an experienced professional who should be well aware of suitability requirements and fiduciary obligations when making investment recommendations.
Legal and Regulatory Framework
Financial advisors like Mampieri operate within a strict regulatory framework designed to protect investors. Several key regulations are particularly relevant to the issues identified:
FINRA Rule 2111 (Suitability)
This rule requires that financial advisors have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile. For complex products like structured notes, advisors must ensure clients fully understand the risks and features of these investments.
FINRA Rule 2210 (Communications with the Public)
This rule governs communications with clients and requires that all communications be fair, balanced, and not misleading. When presenting complex products like structured notes, advisors must ensure they accurately represent both the potential benefits and risks.
SEC Regulation Best Interest (Reg BI)
Implemented in June 2020, Reg BI established an enhanced standard of conduct for broker-dealers. It requires that recommendations be in the best interest of retail customers without placing the financial interests of the broker-dealer ahead of the customer.
Fiduciary Duty
Investment advisers have a fiduciary duty to act in the best interests of their clients, provide full and fair disclosure of material facts, and eliminate or disclose all conflicts of interest. The $7.7 million complaint alleging that accounts were not managed in the client’s best interest directly relates to these obligations.
Guidance for Investors Who Worked with Anthony Mampieri
If you invested with Anthony Mampieri, particularly in structured products or other complex investments, it’s important to take prompt action to protect your rights:
- Review Your Investment Statements: Analyze your account statements to identify any unusual patterns, excessive trading, or unexpected losses, particularly in complex investment products.
- Gather Communication Records: Collect copies of all communications with Mampieri, including emails, letters, and notes from meetings, particularly those relating to investment recommendations.
- Understand Your Investments: Request detailed information about any complex investments in your portfolio, including structured products, and assess whether these align with your stated investment objectives and risk tolerance.
- Examine Account Opening Documents: Review your initial account agreements and investment objective questionnaires to confirm whether your actual investments matched your stated goals and risk tolerance.
- Consider the Timing: FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim, so prompt action is essential.
- Look for Disclosure Issues: Consider whether you were fully informed about the risks, costs, and features of recommended investments, particularly for complex products.
- Consult with a Securities Attorney: An experienced securities attorney can evaluate your specific situation and advise on potential claims for recovery.
If you notice discrepancies between your stated investment objectives and the actual investments in your portfolio, unexplained losses, or believe you may have been placed in unsuitable investments, these may be signs of potential misconduct.
Our Approach to Investment Recovery
Our securities litigation team specializes in representing investors who have suffered losses due to broker misconduct or unsuitable investment recommendations. We offer:
- Comprehensive Case Evaluation: We conduct a thorough review of your investment history, account statements, and communications to identify potential claims.
- Expertise with Complex Products: Our attorneys have specific experience with structured products and other complex investments that may have been inappropriately recommended.
- FINRA Arbitration Experience: We have extensive experience navigating the FINRA arbitration process, where most securities disputes are resolved.
- Contingency Fee Structure: We typically work on a “no recovery, no fee” basis, aligning our interests with yours.
- Individual Attention: We recognize that every investor’s situation is unique and provide personalized attention to each case.
- Strategic Approach: We develop tailored strategies based on the specific facts of your case, the products involved, and the applicable regulations.
Our goal is to help recover investment losses while making the process as straightforward as possible for our clients. We handle all aspects of the claim, from initial investigation through final resolution.
Understanding Structured Products and Their Risks
The settled complaint against Mampieri specifically concerned structured products, which have become increasingly popular but remain poorly understood by many investors. These complex investments typically consist of:
- A Debt Component: Often a bond or note issued by a financial institution.
- A Derivative Component: Usually tied to the performance of an underlying asset or benchmark like a stock index, interest rate, or commodity.
Structured products commonly marketed to retail investors include:
- Principal-Protected Notes: These promise to return some or all of your principal at maturity, regardless of the performance of the underlying assets, but often with significantly reduced upside potential.
- Reverse Convertibles: These high-yield debt instruments can convert to equity if the underlying stock drops below a certain threshold, potentially resulting in significant losses.
- Barrier or “Knock-In” Notes: These offer conditional protection from market downturns but may lose this protection entirely if markets fall beyond a predetermined level.
- Leveraged or Enhanced Return Notes: These amplify market returns but often cap upside potential while maintaining full downside exposure.
The complexity of these products makes them particularly problematic when recommended to retail investors without proper explanation of the risks, limitations, and costs. Financial advisors have a responsibility to fully understand these products themselves and to ensure they are only recommended to suitable clients.
Industry Context: Complex Products Under Regulatory Scrutiny
The issues identified in Mampieri’s practice reflect broader concerns in the financial industry. In recent years, both FINRA and the SEC have intensified their focus on complex products, particularly those sold to retail investors. Key regulatory developments include:
- FINRA Regulatory Notice 22-08: Released in March 2022, this notice reminded firms of their current obligations when recommending complex products and specifically addressed heightened concerns about options and leveraged exchange-traded products.
- SEC Investor Alert: The SEC has issued multiple investor alerts warning about structured notes, highlighting that these products may have significant downside market risk, limited upside potential, and may be difficult to value or sell.
- Department of Labor Fiduciary Rule: Recent regulatory changes have expanded fiduciary obligations, particularly for retirement account recommendations, requiring advisors to act in their clients’ best interests.
These regulatory actions underscore the potential risks associated with complex products and the importance of proper suitability determinations and disclosures when recommending them to retail investors.
Take Action to Protect Your Financial Future
If you’ve invested with Anthony Mampieri and have concerns about your investments, particularly structured products or other complex investments, don’t wait to explore your options. The time to file a claim is limited by regulatory deadlines.
Don’t hesitate to reach out today. Call 800-950-6553 or complete our online form to schedule your free, no-obligation consultation with an experienced investment fraud attorney who can help evaluate your situation and explain your options for recovery.
