If You Suffered Losses With Financial Advisor Ralph Ganchero at Citigroup Global Markets Please Contact the Law Firm of KlaymanToskes
NEW YORK, NY, UNITED STATES, January 31, 2025 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes issues an important notice to customers of financial advisor Ralph Ganchero and Citigroup Global Markets after their mismanagement of a customer’s retirement accounts caused the investor to suffer approximately $375,000 in damages. The law firm urges all customers of Ralph Ganchero and Citigroup Global Markets who suffered investment losses to contact the firm immediately at 888-997-9956.KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case no. 24-02693) against Citigroup Global Markets on the behalf of an investor who is seeking to recover damages of approximately $375,000 in connection with her financial advisor, Ralph Ganchero (CRD# 2601660), failing to follow her investment objectives and improperly managing her retirement accounts.
According to the claim filed by KlaymanToskes, Ralph Ganchero misallocated the investor’s IRA and Roth IRA by placing funds in bond ETFs, including iShare Bond ETFs and Vanguard bond funds, and U.S. Treasury Bills, directly contradicting the client’s instructions to invest in Growth investments with Moderate Risk.
Despite the investor’s repeated requests over nearly two years for Ganchero and Citigroup to adjust the portfolio to align with her Growth investment objective, they allegedly failed to take action, resulting in substantial underperformance compared to growth model benchmarks like the S&P 500.
KlaymanToskes’ investigation found that if the client's main IRA was invested in a growth benchmark, the account would have appreciated by nearly $350,000. Additionally, the client’s Roth IRA would have appreciated by approximately $25,000.
The Quarterly Report for December 2023 shows that the IRA had an overall return since November of 2022 of 4.41% while the S&P 500 had a return of 18.58%. For the year 2023, the S&P 500 had a return of 26.29% while the customer’s IRA had a return of 5.75%. In total, the S&P 500 would have produced a gain of over $375,000 for the customer.
Current and former customers of Ralph Ganchero and/or any other financial advisor who suffered damages at Citigroup Global Markets are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com
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