- Report: #775716
Complaint Review: Navisis Financial - Chicago Illinois
Reported By:
Gary -
Elgin, Illinois, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Navisis Financial
200 E Ohio street Chicago, Illinois, United States of America
Phone:
Web:
navisisfinancial.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Navisis Financial especially Mark Bruscianelli I guarantee that you will lose money with them Chicago Illinois
Mark caught me at a bad time when the market was down. He convinced me to turn over my 401K to him. He promptly liquidated everything I had and put it into highly risk investments ( I was 64 at the time). Within 9 months he had gained 18K in commissions and office costs and lost over 100 K for me. His only concern is money for himself. He loves his beautiful $90K mercedes.
I will admit- I was stupid. I trusted him as I had trusted my previous advisor I was with for over 25 years- who by they way is honest but part of a huge financial empire. Mark convinced me that I needed his expertise and personal guidance.
This company used to be called National Securites but they changed their name. I think because their reputation was getting around.
I filed with FINRA and had them investigated but they are smart enough to stay within the law.
I still get calls- at least 2 a month from new guys in their office trying to get an appointment with me. I feel sorry for those poor rookies getting involved with these sleazy operators.
Do not get involved with this group. There are legitimate advisors out there. Navisis Financial is a front to make money from you. Beware
I will admit- I was stupid. I trusted him as I had trusted my previous advisor I was with for over 25 years- who by they way is honest but part of a huge financial empire. Mark convinced me that I needed his expertise and personal guidance.
This company used to be called National Securites but they changed their name. I think because their reputation was getting around.
I filed with FINRA and had them investigated but they are smart enough to stay within the law.
I still get calls- at least 2 a month from new guys in their office trying to get an appointment with me. I feel sorry for those poor rookies getting involved with these sleazy operators.
Do not get involved with this group. There are legitimate advisors out there. Navisis Financial is a front to make money from you. Beware
3 Updates & Rebuttals
gary
Glendale Heights,Illinois,
USA
Response to Mark Bruscianelli
#2REBUTTAL Individual responds
Tue, September 01, 2015
I am the individual who filed the report against Mr. Bruscianelli
Mr Bruscianelli and I had a disagreement which we have since resolved. I apologize for the remarks I made about mr Bruscianelli and have attempted to remove my previous comment without success per Ripoff Reports Policy. I do not intend for any individual to rely upon the above statement
Gary
south Elgin,Illinois,
USA
Mark Bruscianelli record with investors
#3Author of original report
Wed, March 14, 2012
Navisis Financial response to my complaint is standard corporate boilerplate. Of course they belong to the standard broker organizations.
Proof that I may have a point can be found at FINRA Broker Check. Type in Mark Bruscianelli name. Broker # is 4177839. He has had 8 complaints filed with FINRA since 2008.
Why would someone have that many compaints against him? Look at any other broker you choose and see how many complaints they have had against them. Filing a claim with FINRA is not a simple task by the way. He made at least 8 people upset enough to spend hours filling out forms and sending documents.
I think this is pretty indicative of his method of operation.
NavisisFinancial
wheaton,Illinois,
United States of America
Navisis Financial's Response to Gary's Unfortunate Comments
#4UPDATE Employee
Wed, March 14, 2012
Garys report is incorrect on many levels. First, Navisis Financial is an investment company that continues to maintain a relationship with National Securities Corporation, Member FINRA/SIPC, its broker dealer. Navisis did not change its name or leave National Securities Corporation for any reputation reasons. In fact, all of Navisis marketing materials and its website fully discloses that its securities are offered through National Securities Corporation. Navisis is unaware of any negative publicity regarding National Securities Corporation.
Second, Gary complains of losing money in the stock market. Although Navisis strives to give the best investment advice possible, Navisis certainly cannot guarantee against losses in the equity markets. Unfortunately, because of the privacy laws, SEC and FINRA regulations, Navisis cannot discuss any of its customers specific investment objectives, strategies or how the broker carried out those investment objectives. However, it is important to note the procedures Navisis uses to create a unique investment portfolio for each of its clients.
Navisis conducts an extensive discussion and evaluation of each clients investment goals and strategy. Specifically, clients determine what his or her investment objectives are: Preservation of Capital, Income, Capital Appreciation, Speculation or Trading Profits, and then discuss with their broker the benefits and possible risks associated with each of those objectives. Clients must also set forth a risk tolerance: Conservative, Moderate, Aggressive, or possibly a combination of those. Finally, Navisis requires that each of its clients communicate their specific investment time horizon for their investments: Short (0-5 years), Intermediate (6-10 years) or Long (over 10 years). Navisis then diligently follows these investment objectives, risk tolerance and time parameters in creating a unique portfolio for its clients.
FINRA is the regulatory agency that monitors all registered members, brokers and brokerage firms. Garys claim with FINRA was rejected because FINRA found no fault with Garys broker. Navisis does not simply stay within the law, but rather, keeps abreast of all FINRA regulations and continually monitors all of its brokers and client accounts on a regular basis to ensure that all FINRA regulations are being upheld. In the same manner, Navisis broker-dealer, National Securities Corporation also monitors Navisis brokers. Thus, there are a number of checks and balances in place to ensure that brokers are in compliance with all applicable SEC and FINRA regulations. But it is not enough that the brokers are simply in compliance with the laws. Navisis places a strong emphasis on ensuring that its clients are satisfied and working well with their brokers. Without satisfied customers, Navisis could not maintain its successful investment firm.
Navisis is indeed a successful investment firm that manages many customer accounts. Navisis does not, nor could it, ever guarantee a customer a specific return on his or her investment. While Gary did not stick with Navisis, there are many customers that have weathered the downturns in the stock market and have met their investment objectives.
Respectfully,
Executive Management
Navisis Financial
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