PARK AVENUE SECURITIES LLC

PARK AVENUE SECURITIES LLC of NEW YORK, NY is an SEC-registered investment adviser (CRD 46173). Regulatory assets under management: $19.6B. This firm reports disciplinary history on Form ADV.

Registration

Business model

Compensation: % of AUM, Hourly, Fixed.

Clients served: Individuals, High net worth, Charities.

Officers, owners & control persons (95)

Showing 25 of 95 people.

NameRoleLocation
Allen Warren BoggsHEAD OF PRODUCT & SUPERVISION
Joshua Neil HerganGENERAL COUNSEL
Leyla Ada LesinaELECTED MEMBER
Carly Pritchard MaherHEAD OF WEALTH MANAGEMENT STRATEGY AND BUSINESS OPERATIONS
Marianne Grace CaswellPRESIDENT AND ELECTED MEMBER
Michael John RynikerPRINCIPAL OPERATIONS OFFICER
Carl DesrochersELECTED MEMBER
Kate DavarashviliFINOP/PRINCIPAL FINANCIAL OFFICER.
Joseph Michael GalloCHIEF COMPLIANCE OFFICER
Michael Andrew PerryELECTED MEMBER
Michael Nicholas FerikELECTED MEMBER
Joseph M GalloCHIEF COMPLIANCE OFFICER
BURNS RONALD JCHIEF COMPLIANCE OFFICER
COSTANTINI MARCLLC MANAGER; MANAGING MEMBER
COOLEY JILL DIANEPRESIDENT; PRESIDENT /CHIEF OPERATING OFFICER PAS/; PRESIDENT /CHIEF OPERATING OFFICER PAS/LLC MANAGER (+1 more)
RYNIKER MICHAEL JOHNCHIEF OPERATING OFFICER; CHIEF OPERATIONS OFFICER; PRINCIPAL OPERATIONS OFFICER
CARUSO JOSEPH ANTHONYDIRECTOR, SECRETARY; LLC MANAGER, SECRETARY; SECRETARY (+1 more)
CLEMENTS JAMES EDMONDSENIOR VICE PRESIDENT INVESTMENT ADVISORY SERVICES; VICE PRESIDENT INVESTMENT ADVISORY SERVICES
POTTER RICHARD THOMAS JRVICE PRESIDENT/COUNSEL
NURGEALWS THERESA ECHIEF OPERATING OFFICER; SENIOR VICE PRESIDENT & CHIEF OPERATING OFFICER
GAIDULA GEORGIA LEEMUNICIPAL SECURITIES PRINCIPAL
SILBERMAN MARK AVERYCHIEF FINANCIAL OFFICER; PRESIDENT, CEO & CHIEF OPERATING OFFICER & SVP INVESTMENT ADVISORY SERVICES; PRESIDENT/ CHIEF OPERATING OFFICER/ INVESTMENT ADVISORY SERVICES (+3 more)
LENDERINK GARY BERTDIRECTOR; LLC MANAGER
DURSO ALFRED JOSEPHACTING CHIEF COMPLIANCE OFFICER; CHIEF COMPLIANCE OFFICER; INTERIM CHIEF COMPLIANCE OFFICER (+1 more)
DEPALO ARMAND MICHAELDIRECTOR; LLC MANAGER

Disclosures (305)

Showing 10 of 18 distinct disclosure events.

InitiatedTypeAllegationsStatusAmount
2024-09-24regulatoryWITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT FROM JANUARY 2019 THROUGH JULY 2021, IT FAILED TO ESTABLISH, MAINTAIN, AND ENFORCE A SUPERVISORY SYSTEM REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH THE SUITABILITY REQUIREMENTS OF FINR…Final$125K
2023-05-31regulatoryIN CONNECTION WITH AN UNDISCLOSED OUTSIDE BUSINESS ACTIVITY OF A PAS REGISTERED REPRESENTATIVE, PAS, WITHOUT ADMITTING OR DENYING THE FINDINGS, AGREED TO A LETTER OF ACCEPTANCE, WAIVER, AND CONSENT WITH FINRA FOR THE PURPOSE OF SETTLING ALLEGED FINRA RULE VIOLATIONS. PAS WAS CENSURED AND FINED $30,0…Final$30K
2020-12-08regulatoryRESPONDENT ACKNOWLEDGED THAT THE ALLEGATIONS CONTAINED IN THE THIRD AMENDED ACCUSATION BY THE CALIFORNIA DEPARTMENT OF INSURANCE, WHICH RELATE TO THE FIRM'S DISCLOSURES OF ALREADY RESOLVED MATTERS INVOLVING THE FIRM OVER A 16 YEAR PERIOD, IF PROVEN AT HEARING, WERE GROUNDS FOR THE CALIFORNIA INSURAN…Final
2019-07-16regulatoryWITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT DISADVANTAGED CERTAIN RETIREMENT PLAN AND CHARITABLE ORGANIZATION CUSTOMERS WHO WERE ELIGIBLE TO PURCHASE CLASS A SHARES IN CERTAIN MUTUAL FUNDS WITHOUT A FRONT-END SALES CHARGE. THE F…Final
2019-03-11regulatoryAT TIMES DURING THE PERIOD JANUARY 1, 2014 TO OCTOBER 31, 2018 (THE "RELEVANT PERIOD"), PAS PURCHASED, RECOMMENDED, OR HELD FOR ADVISORY CLIENTS MUTUAL FUND SHARE CLASSES THAT CHARGED 12B-1 FEES INSTEAD OF LOWER-COST SHARE CLASSES OF THE SAME FUNDS FOR WHICH THE CLIENTS WERE ELIGIBLE. PAS, IN VIOLAT…Final
2018-07-25regulatoryTHE LOUISIANA COMMISSIONER OF INSURANCE REQUIRES ANY ADMINISTRATIVE ACTION TO BE REPORTED WITHIN 30 DAYS OF FINAL DISPOSITION OF THE MATTER. PAS WAS FINED BY THE FINANCIAL INDUSTRY REGULATORY AUTHORITY ON APRIL 11, 2018 AND DID NOT NOTIFY LOUISIANA OF THIS FINE WITHIN THE REQUIRED TIME PERIOD. THE S…Final$250
2018-04-11regulatoryWITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT FAILED TO ESTABLISH, MAINTAIN AND ENFORCE A SUPERVISORY SYSTEM AND WRITTEN SUPERVISORY PROCEDURES (WSPS) REASONABLY DESIGNED TO ENSURE THAT REPRESENTATIVES' RECOMMENDATIONS CONCERNING…Final$300K
2016-11-18regulatoryIN CONNECTION WITH THE MISAPPROPRIATION OF FUNDS FROM TWO CUSTOMERS BY AN UNREGISTERED SALES ASSISTANT, FINRA CENSURED AND FINED PARK AVENUE SECURITIES ("PAS") $195,000 IN ITS CAPACITY AS A BROKER-DEALER FOR FAILING TO ENFORCE ITS WRITTEN SUPERVISORY PROCEDURES REGARDING THE MONITORING OF CUSTOMER T…Final$195K
2015-10-19regulatoryWITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT FAILED TO IDENTIFY AND APPLY SALES CHARGE DISCOUNTS TO CERTAIN CUSTOMERS' ELIGIBLE PURCHASES OF UNIT INVESTMENT TRUSTS (UITS). ON MARCH 31, 2004, FINRA ISSUED NOTICE TO MEMBERS 04-26,…Final$300K
2011-11-08regulatoryWITH RESPECT TO FINRA RULE 2010, NASD RULES 2110 AND 3010, FINRA ALLEGED THAT PARK AVENUE SECURITIES LLC, IN ITS CAPACITY AS A BROKER-DEALER, FAILED TO: (1) ADEQUATELY INVESTIGATE CERTAIN REGISTERED REPRESENTATIVES' INVOLVEMENT WITH A PONZI SCHEME; (2) ADEQUATELY INVESTIGATE ALLEGATIONS MADE BY TWO…Final$175K

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