Beware of Potentially Disreputable Stock Loss Recovery Firms Like Cold Spring Advisory

Did you lose your money in the stock market? Are you looking for a reliable stock loss recovery firm? Well, if yes, then do take great care in choosing the right firm, not just any firm, or the first firm. There are many firms of questionable intent operating in the industry, searching for clients like you. One such firm is Cold Spring Advisory, which uses aggressive sales tactics [that FINRA warns about] to lure your in.

How does it operate?

Cold Spring Advisory Group lists Michelle Ottimo as the president, but in an article I came across the reporter suggests that Louis Ottimo is actually running the show from behind the curtain. And that should be of concern considering he was a stock broker that was barred from the industry and, had a long list of complaints, lawsuits, sanctions and liens against him. he also owned or operated several companies that were also sued for fraud, sanctioned, and/or shut down in bankruptcy. By the way, Louis Ottimo has recently filed personal bankruptcy as well.

Cold Spring Advisory claims they are the biggest stock loss recovery firm in the nation, but the only place you can find that is on their own website, or in press releases they themselves send out. We’ve come across many lawsuits that Cold Spring Advisory Group initiated on behalf of their clients, which were all lost, costing the client even more money beyond that which they were trying to recover. There has been talk about Cold Spring Advisory Group charging big upfront fees, but we have not yet ourselves come across proof of that.

 

Learn from others’ complaints

Over the years, many genuine investors who have had a tough time dealing with this company have lodged several complaints about the company and its owners. As a matter of fact, a quick research on the Internet will help you find many complaints made against Louis Ottimo and his family members including Anthony Ottimo and Louis Ottimo Sr.

Consumer complaint sites are littered with stories about Louis and/or Cold Spring Advisory Group, such as Rip Off Report, Scamalot,  Complaints Board, and Pissed Off Consumer.

As we continue to investigate this company we find more and more pieces to a puzzle that is taking form, and it doesn’t look good.

Take time to review the alert notices in the FINRA newsroom, and if you suspect fraud, file a complaint using FINRA’s online Investor Complaint Center or call FINRA at (240) 386-HELP (4357).

 

 

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