Founded in 1992 by Michael De Pol, Nationwide Planning Associates, Inc. (“NPA”) is a broker-dealer and full-service financial planning firm headquartered in Paramus, New Jersey. The firm’s management fully owns and controls the firm. NPA is affiliated with NPA Asset Management, LLC and NPA Insurance Agency, Inc. Its brokers are licensed in all 50 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Financial Misconduct at Nationwide Planning Associates, Inc.
NPA is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.
NPA and brokers backed by NPA have a history of misconduct.
In August 2015, NPA was censured and fined $55,000 after FINRA found that the firm issued advertising materials that contained exaggerated, misleading, and unbalanced statements. Additionally, NPA failed to regularly inspect its offices and non-supervisory branch offices as is required. Concerning the inspections that the firm did conduct, they were deficient.
NPA also failed to retain all business-related emails as required by law and failed to establish, maintain, and enforce an adequate supervisory system pertaining to the review of all emails.
In October 2015, NPA was ordered to pay $42,500 after it compromised one of its customers’ identities, which was then used to commit ACH fraud.
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Meyer Wilson reclaimed $350 million for the victims of investment fraud or misconduct. Our attorneys are experienced in going up against the largest investment firms, such as Nationwide Planning Associates, Inc., and our track record affirms our resources and expertise. Meyer Wilson has represented clients nationwide and internationally, in state and federal courts, and in securities arbitration through FINRA and the American Arbitration Association (AAA). As an investor, you have a right to recover investments lost through unethical behavior or decisions made against your interests.
