Mappa Wealth Advisor Mark Mappa: Oil & Gas Complaints

Two recent investor complaints detail allegedly unsuitable investment recommendations involving Mark Mappa (CRD# 1874503), a broker and an investment advisor based in Northbrook, Illinois. Financial Industry Regulatory Authority records show that he is a representative of Woodbury Financial Services, having formerly been registered with Kestra. He is the president of Mappa Wealth Management.

Pending Complaints Allege Unsuitable Oil & Gas Products

Mr. Mappa’s BrokerCheck report discloses two investor complaints, both filed in 2022. The most recent, filed in October, alleges breach of fiduciary duty, unsuitable investment recommendations, supervisory failures, and misrepresentations of an oil and gas product while he was at Kestra Financial. The second, filed in August, similarly alleges the misrepresentation of an unsuitable oil and gas product. The October complaint alleges unspecified damages, while  the August complaint alleges damages of $150,000. Both remain pending. In statements included with the disclosures, Mr. Mappa notes that he was not personally named as a respondent in the arbitration claims.

What Is Mappa Wealth Management?

FINRA records show that Mr. Mappa is the president of Mappa Wealth Management. According to the firm’s website, it offers securities and advisory services through Woodbury Financial Services, though it is a separately owned entity. The firm describes itself as a “long term partner” to its clients, helping them manage decisions about their finances and lives. “We bring clarity to complex financial concepts by taking time to explain our approach and making sure you’re actively involved in cultivating your personalized financial plan,” it states. “Committed to integrity and transparency, as fiduciaries we take pride in upholding the highest ethical standards. Our clients’ best interests are always our number one concern. We’re here when you need us, in good times and bad.”

A separate page describes the “Bill of Rights” for the firm’s clients. As it explains, they have the right to be treated “with respect, fairness, and integrity”; to be provided “competent, knowledge, and personalized advice”; to receive timely answers to their questions; to receive transparency into and understanding of the firm’s recommendations and fees; and more. 

FINRA: Mappa Based in Northbrook, Illinois

According to the Financial Industry Regulatory Authority, Mark Mappa has spent 33 years as a broker. Based in Northbrook, Illinois, he has been a representative of Woodbury Financial Services since 2016 and is president of Mappa Wealth Management. His registration history includes NFP Advisor Services (now Kestra Financial), VeraVest Investment Services, and Financial Network Investment Corporation. His credentials include the passage of four securities industry exams, such as the Series 65 and the Series 7. More information about his history in the securities industry is available via his FINRA-provided BrokerCheck report. (Information current as of November 18, 2022.)

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