Cold Spring Advisory Group Reviews | coldspringadvisory.com @ PissedConsumer

F M Tlz

New York, New York

Good Company

Mar 08, 2018

5.0

I have know Lou for a year now. I see how he helps so many people recover money from Broker/Dealers. He is very passionate about making sure all his clients do not get hurt and always is honest. I have seen this first hand. I would refer him to anyone who is suffering from a financial loss from predatory Brokers. To much scam and loss happens to the elderly people in this county. Cold Spring does their job. Not everyone can be happy and not everyone who goes for help can recover a loss but most do. I need to say a 100 words to complete this posting and I pretty much said it all. BUT I will say I do understand that people have high expectations and when they do not get what they want they complain. More people complain then put up good postings about business and most postings are done in revenge and that is sad but it does happen. I am fair when I post a review weather it is a good or not good posting because I am also a businessman who understands how consumes are.

View full review

Pros:

Easy to deal with

Reason of review:

Reliable warranty

3 comments

Lavance Ngn

Jul 25, 2019

Louis Ottimo and Cold Spring Advisory are a group of individuals whom where disbarred for stealing investors money. They have now found a loophole to continue to steal money from investors with our being regulated by FINRA.

Take a look at their track record, they are 1 for 26.

The only people that win is them collecting up-front retainers and are engaged in the unauthorized practice of law. https://www.financial-planning.com/news/in-finra-arbitration-banned-brokers-represent-investors-as-do-others-with-criminal-histories

Helpful

View more comments (2)

Anonymous

Guest-928288

Tok, Alaska

Do not trust

Sep 30, 2016

I was contacted and told to gather and send all of my statements and confirmations from the last several years. Having been taken for I ride only already I decided to do some digging. Upon doing my research I discovered that the proprietors of this organization are all former stock brokers themselves. They themselves have been bared from securities trading and their firms shut down by the SEC. In fact I learned that one of their employees even worked at the firm that lost me my money! If it sounds too good to be true it probably is!!! Nice try but this old dog finally learned his lesson.

View full review

Anonymous

Guest-910594

Ashburn, Virginia

They stole over 7,000 from me

Aug 31, 2016

They took a look at all my statements from firms I dealt with for free. They told me i had a really solid case. Than when it was time to proceed with the case I was charged over 7,000 in fees and got nothing in return. These guys are worse crooks than the actual brokers. Smooth talking, after do more investigation all these guys are actually ex brokers who got barred by the SEC. My broker informed me these guys steal clients lists and harass individuals to sue there brokers. How is that legal in any way. These guys are scam artist and I am filing a suit against them

View full review

Loss:

$7000

Reason of review:

Poor customer service

4 comments

Guest-1397787

Nov 29, 2017

We just received a threatening telephone call from a John Murphy at Coldspring Advisory based upon an article we wrote exposing their antics and operation and “cold” calling victims from lists they obtained from the bad brokers themselves. If we did not take down our article, they would hire people to write bad reviews about us all over the internet.

https://securitiesarbitrations.com/coldspringadvisory/

Helpful

Guest-1208987

Sep 07, 2016

Cold Spring Advisory is known for saying "whatever it takes" to convince people to sue a broker firm regardless of merit. Cold Spring Advisory is composed of all shady characters, felons, and con artists.

They will basically flat out say, "well just claim everything against the broker and firm and they will just settle b/c no-one wants to go to court. Well guess what, they haven't been relaying MANY settlement offers and in addition losing in court. RESULTING in another loss to the brokerage firm client.

Examples:

FINRA DISPUTE RESOLUTION

CASE #: 15-0****

Stephen McCourt (Claimant) vs.

Labron Manosa Toles and Sonya Terez Still (Respondents)

REPRESENTATION OF PARTIES: For Claimant Stephen McCourt: Jennifer Tarr, Cold Spring Advisory Group, New York, New York. Respondent Labron Manosa Toles ("Toles") did not enter an appearance in this matter. For Respondent Sonya Terez Still (Still"): Marc S. Gottlieb, Esq., Sanders Ortoli Vaughn-Flam Rosenstadt, LLP, New York, New York.

NATURE OF DISPUTE: Customer vs. Associated Persons Statement of Claim filed on or about: December 1, 2015. CASE SUMMARY: Claimant asserted the following causes of action: unsuitability, failure to supervise, and breach of fiduciary duty. The causes of action relate to various securities including Deer Consumer Products stock.

Respondent Still requested expungement of her CRD records. RELIEF REQUESTED: In the Statement of Claim, Claimant requested: Compensatory Damages: Costs: Other: $ 31,258.00 $ 2,500.00 Unspecified AWARD: The undersigned Arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows: 1) Claimant's Claims Are Denied In Their Entirety. 2) Respondent Still's request for expungement of this matter from her CRD records is denied. 3) FINRA Dispute Resolution shall retain the $600.00 filing fee that the Claimant deposited previously.

4) Respondents are jointly and severally liable for and shall pay to Claimant $300.00 to reimburse Claimant for one half of the filing fee previously paid. 5) All other relief requests are denied. OTHER FEES: FINRA Dispute Resolution has assessed Seaboard Securities, Inc. the $750.00 Member Surcharge and the $1,750.00 Member Process Fee.

FINRA DISPUTE RESOLUTION CASE #. 15-0**** Michael J. Stott (Claimant) vs. Gregory T.

Dean, Daniel Dvorznak, Anthony Minerva, and Michael A. Valdini (Respondents) REPRESENTATION OF PARTIES: Claimant Michael J. Stott: Jennifer Tarr, Cold Spring Advisory Group, New York, New York Respondents Gregory T. Dean, Daniel Dvorznak, Anthony Minerva, and Michael A.

Valdini: Ian J. Frimet, Esq., Wexler Burkhart Hirschberg & Unger, LLP, Garden City, New York NATURE OF DISPUTE: Customer vs. Associated Persons Statement of Claim filed on or about: November 19, 2015 CASE SUMMARY: Claimant asserted the following causes of action: unsuitability, failure to supervise, fraud, and misrepresentation. The causes of action relate to Claimant's investments in call options in Intuitive Surgical, Inc., Yelp, and Green Mountain Coffee, put options in Tesla and Netflix, and stock in Organovo Holdings Inc.

RELIEF REQUESTED: In the Statement of Claim, Claimant requested: Compensatory Damages: $50,000.00 Other: Unspecified AWARD: The undersigned Arbitrator has decided and determined in full and final resolution of the issues submitted for determination as follows: 1) Claimant's claims are denied in their entirety. 2) All other relief requests are denied. 3) The Office of Dispute Resolution shall retain the $600.00 filing fee that Claimant deposited previously. 4) Respondents are jointly and severally liable for and shall pay to Claimant $300.00 to reimburse Claimant for one-half of the filing fee previously paid to the Office of Dispute Resolution.

OTHER FEES: As Respondents Gregory T. Dean, Daniel Dvorznak, Anthony Minerva. and Michael A. Valdini's former firm, the Office of Dispute Resolution has assessed against J.D.

Nicholas & Associates, Inc.

the $750.00 Member Surcharge and $1,750.00 Member Process Fee. OTHER ISSUES: The Arbitrator acknowledges that he has read the pleadings and other materials filed by the parties.

View more comments (3)

Karyme Osu

Research

Nov 25, 2016

1.0

I caught wind of Cold Spring Advisory and Louis Ottimo and researched them. The more I dug, the more ominous it began to look. A former broker that was barred from the securities industry now collects upfront fees to go after people like him. I received a call from Louis Ottimo about a month ago, partly in reference to the article I wrote in September about him and his affiliation with Cold Spring Advisory, and also about me reaching out to a client. none answered the call, though I'm not surprised. You can't defend a house of cards against even a hint of a negative wind. Louis claims to be just a consultant, but my research into the matter revealed that he had far more access to the day to day business affairs of Cold Spring Advisory than he claimed. In fact: Louis Ottimo was the sole source of their client lead list; he engaged with and choose the lawyers that would represent said clients; he generated the checks to pay such lawyers; he alone interviewed all clients and their stock portfolios; and; he alone determined the up front fees to charge said clients. By this account, whether he was paid as an employee or a consultant, nonetheless made him essentially a de facto employee of the company.

View full review

Cons:

Research ive done disputes their claims

2 comments

Guest-1397786

Nov 29, 2017

https://securitiesarbitrations.com/coldspringadvisory/

Helpful

View more comments (1)

Anonymous

Guest-748213

New York, New York

COLD SPRING ADVISORY & LOUIS OTTIMO STOLE MY MONEY AGAIN

Dec 09, 2015

1.0

Cold Spring Advisory Group Claims to help investors get money back from stockbroker fraud or wrongdoing. They say call them and they will help you for an upfront fee and a percentage of the money they recoup.

Sounds great! Well Truthbetold, Here is who owns Cold Spring Advisory, he stole your money once, don't let him do it again.

LOUIS OTTIMO (CRD #260****)

More Than 10 Disclosures in 8 years, PERMANTLY BARRED and thats just a start see the link:

http://brokercheck.finra.org/Individual/Summary/260****

He has over $600,000.00 in liens and judgments BUT he has already filed bankruptcy in 2010, so he cant do it again.

WAIT, how could he file bankruptcy when he lives at

20 Tall Oak Crescent Syosset NY 11791

4661 square foot, 5.5 bathroom

Well He's in Foreclosure:

Foreclosure Information

AUG 25 2014

Home in default

The owner of this property has been served a Notice of Default.

But He sure is living the high life on your money!

Here's Where he stole it FIRST at his firm EKN Financial Services:

http://brokercheck.finra.org/Firm/Summary/113525

https://www.finra.org/sites/default/files/OHO_Ottimo_200901****201_07****.pdf

https://www.finra.org/newsroom/2012/finra-expels-ekn-financial-services-defying-sec-order-and-numerous-compliance

http://www.wsj.com/articles/SB100014****270230****304579****428********

THATS RIGHT !!! THE SAME GUY, LOUIS OTTIMO who STOLE your money at EKN Financial is now trying to take your money again!

If YOU Lost money with EKN Financial contact a REAL ATTORNEY, SUE LOUIS OTTIMO who is living it up and laughing all the way to the bank. He may be barred, but you can still go after him!

BANKRUPTCY??? not in that house, so if he REALLY had to file bankruptcy, where is the money coming from?

Can Anyone say FRAUD?

Tax Evasion, Bankruptcy Fraud, Fraud at his brokerage firm EKN

What was he doing with YOUR MONEY?

If you called COLD Spring Advisory, do yourself a favor CALL SOMEONE ELSE.

BUT IF THEY CALLED YOU , HERE'S SOMETHING YOU SHOULD KNOW.

ARE YOU A VICTIM OF IDENTITY THEFT? LOOK NO FURTHER:

Louis Ottimo and Cold Spring Advisory, Stole confidential information and also bought confidential information from people who STOLE it !!!

That's right ! Social Security Number , Date of Birth, Income, Bank Info and more.

Here's a current lawsuit:

http://pdfserver.amlaw.com/cli/memorandum/oca_memorandum_653483_****_16.pdf

How did hey get your number? How did they know. many barred brokers who were thrown out of the financial services Industry just like Louis Ottimo are calling YOU from Cold spring advisory.

You wouldn't know because they use fake names or alias.

Many of the same people that used to work for that tan guy with the pearly whites and a smile to rob you blind may have lost or stole your money or caused you harm

In fact Louis Ottimo is hiring his EX SUPERSTARS and top producing Broker CROOKS and having them call You with fake names....to help you of course.

COLD SPRING ADVISORY , LOUIS OTTIMO AND his BAND OF THIEVES that have been barred from the securities industry are going to Help you pay a fee of $7500, PLUS filing fee's and THEN give up 30- 50 % of any winnings or settlements?

BREAKING NEWS!!

COLD SPRING ADVISORY AND LOUIS OTTIMO"S NEWEST SCAM IS settling in CASH with broker and telling the client there is NOTHING that can be done. They take your fee, take the Broker's money, and LOU OTTIMO Gets to enjoy that lovely pool for one more summer.

People, if you lost money and want to seek help you can contact plenty of reputable attorneys who will do right by you.

But Louis Ottimo is Cold Spring Advisory. He is the dog that bit you ONCE, Don't let this scam artist get you again.

View full review

Loss:

$12500

Pros:

Promise to help me

Cons:

I lost 12500
Taking my money saying its not refundable to read my contract
To read my contract

Reason of review:

total scam, promised results and kept my money. Instead of helping me, they took more of my money

Preferred solution: Have Law enforcement put this crook in Jail where he belongs

10 comments

Guest-1282239

Feb 06, 2017

please contact me bill weller 631-463-****

Helpful

ColdSpringAdvisoryGroup

Dec 21, 2015

The post in questions is not a customer of ours, nor do his claims constitute an actual customer experience. The author of this complaint is believed to be someone who is not a client of Cold Spring Advisory Group and is taking the time to submit these reviews out of a personally-held vendetta.

Cold Spring Advisory recently named John L. Parmigiani, the president and CEO of EJ Sterling, a broker-dealer located at 40 Broad Street in New York City, and his firm in a complaint on behalf of a client who lost over $43,000 and was charged in excess of $21,000 in commissions within an 8-month period. We believe he may by the author in question of this post.

Furthermore, the claims made by the author of this are absolutely baseless.

As this is in no way a client of Cold Spring Advisory Group there is no contract or $12,500 as stated in the demands of the complaint. This “report” is obviously void of specifics relating to any case, and is clearly an attempt to smear the reputation of Mr. Ottimo and his family, taking a “shotgun approach” with outrageous defamatory statements.

Mr.

Parmigiani has worked in the securities industry for 18 years and has been employed by 9 different firms, 2 of which have been expelled by FINRA (Harrison Securities, Inc. and Prestige Financial Center) and 3 others are no longer licensed and their registrations with FINRA have been terminated (First Asset Management, Inc., Ladenburg Capital Management, Inc. and S.W. Bach & Company).

See Here:

http://brokercheck.finra.org/Firm/Summary/16569 http://brokercheck.finra.org/Individual/Summary/2800410 http://brokercheck.finra.org/Individual/Summary/270014 http://brokercheck.finra.org/Individual/Summary/5843824 http://brokercheck.finra.org/Individual/Summary/4692991 http://brokercheck.finra.org/Individual/Summary/4187935 http://brokercheck.finra.org/Individual/Summary/3258848 http://brokercheck.finra.org/Individual/Summary/2909556 http://brokercheck.finra.org/Individual/Summary/6062618 It is also of great importance to note that: -Louis Ottimo does not own Cold Spring Advisory Group, has never declared bankruptcy and his house is not in any stage of foreclosure. -Cold Spring Advisory Group does not have anyone’s Personal Confidential Information (PCI) such as social security numbers, bank account information, income information or dates of birth unless it has been provided by a client for the purposes of preparing their case for FINRA Arbitration. Cold Spring Advisory Group will continue to monitor the internet for any and all attempts to defame, harass, or otherwise intimidate our firm, our clients, and our consultants.

Thank You. -Cold Spring Advisory Group.

Guest-1221280

Oct 01, 2016

Replying to comment of Guest-1189286

Julian, some helpful links on your journey for information. There is a current civil case filed in New York against Cold Spring Advisory Group alleging that they are acting on ill gotten client information through illicit means.

This would be an extremely severe crime both in the State of NY, and the Financial Industry. Furthermore, the assumed Controller of Cold Spring Advisory Group is, Louis Ottimo, who was barred from the financial industry, which stipulates that he cannot associate with any broker dealer or entity registered with both FINRA and the SEC. This is where it gets interesting. Just recently the SEC and FINRA have issued newsletters directly addressing the murky industry of "investment recovery" companies, and advising against any company calling to solicit an arbitration claim.

Presumably both US government arms (FINRA/SEC) are investigating Cold Spring Advisory Group and similar entities.

Civil case found here:

https://iapps.courts.state.ny.us/webcivil/FCASCaseInfo?parm=CaseInfo&index=2bDnZQffi31IwVTGNWNl0Q%3D%3D&county=lv8PvFgXEaEDz2GlopoVgw%3D%3D&motion=M&docs=&adate=10/05/2016

Louis Ottimo civil indiscretions: (copy paste link below)

https://iapps.courts.state.ny.us/webcivil/FCASSearch?param=P

click tab ("defendant") search "louis ottimo" Lastly to arrive at the their track record which they charge upwards of $25,000 to start, and a multitude of fees along the way plus a 50% contingency. (copy and paste below) http://www.finra.org/arbitration-and-mediation/arbitration-awards-online?keyword=cold+spring+advisory http://www.finra.org/arbitration-and-mediation/arbitration-awards-online?keyword=hilton+wiener http://www.finra.org/arbitration-and-mediation/arbitration-awards-online?keyword=ekn

Guest-1213231

Sep 15, 2016

Replying to comment of ColdSpringAdvisoryGroup

I would say this would prove the contrary.

Forclosure fully submitted as of 8.9.2016 with NO OPPOSITION.

Plaintiff seeks "ORDER OF REFERENCE" aka: Taking the home and property.

WebCivil Supreme - Appearance Detail

Court: Nassau Civil Supreme

Index Number: 008250/2014

Case Name: U S BANK N A vs. OTTIMO,LOUIS Case Type: Res Foreclosure Fsc Eligible Track: Standard Appearance Information: Appearance Date Time On For Appearance Outcome Justice / Part Comments Motion Seq 08/09/2016 Motion Fully Submitted - No Opp FORECLOSURE SETTLEMENT CONF PT MOTION FORECLOSURE PART CHAMBER 001 05/04/2016 Supreme Trial Inactive Pending Future Filing FORECLOSURE SETTLEMENT CONF PT FORECLOSURE-SP SETTLEMENT CONF 04/16/2015 Supreme Trial Fsc - Not Settled (U) FORECLOSURE SETTLEMENT CONF PT FORECLOSURE-SP SETTLEMENT CONF 9:30 AM 02/05/2015 Supreme Trial Fsc - Continued (R) FORECLOSURE SETTLEMENT CONF PT FORECLOSURE-SP SETTLEMENT CONF 2:15 PM 01/27/2015 Supreme Initial (first time on) Fsc - Continued (U) FORECLOSURE SETTLEMENT CONF PT FORECLOSURE-SP SETTLEMENT CONF 2:15 PM

Guest-1213250

Sep 15, 2016

Replying to comment of Guest-1080392

Here is a little more NY court history of Mr. Louis Ottimo.

Court: Nassau Civil Supreme

Index Number: 006702/2009

Case Name: US BANK NATIONAL ASSOCIATION vs. OTTIMO, LOUIS

Case Type: Foreclosure

Track: Extremely Complex RJI Filed: 06/22/2009 Date NOI Due: NOI Filed: Disposition Date: 03/05/2012 Calendar Number: Jury Status: Justice Name: FORECLOSURE PART Court: Nassau Civil Supreme Index Number: 020811/2009 Case Name: LAKE PARK 135 CROSSWAYS PARK vs. OTTIMO, LOUIS Case Type: Other Track: Complex RJI Filed: 01/06/2010 Date NOI Due: NOI Filed: Disposition Date: 03/17/2016 Calendar Number: Jury Status: Justice Name: ROY S. MAHON Court: Nassau Civil Supreme Index Number: 004298/2010 Case Name: HELFANT, LAWRENCE vs.

OTTIMO, LOUIS Case Type: Other Track: Standard RJI Filed: 07/03/2012 Date NOI Due: NOI Filed: Disposition Date: 03/22/2016 Calendar Number: Jury Status: Justice Name: R. BRUCE COZZENS JR. (DCM) SUPREME COURT OF TIIE STATE OFNEWYORK COIJNTY OF NASSAU P RE SENT: HON. JEITREY S.BROWN JUSTICE -'-----x TRIAL/IAS PART 16 3RD ENIERPRISES, LLC, Plaintiff(s)' -against- LOUIS OTTIMO' ANTHONY OTTIMO and THOMAS GIUGLIANO, Defendant(s).

INDEX # 8152/13 Mot Seq. 2 Mot Date 7.14.14 Submit Dete 7.14.14 x The following papers were read on this motion: Notice of Motion, AfEdavits (Affirmations), Exhibits Annei(ed'.""""-""'Papers NumberedPlaintiffmoves pursuant to CPLR 603 to sever the action andclaims against defendantThomas Giugliano and plainliffto enter judgnent againS defendants Louis Ottimo andAnthony ottimo. It appears ftom a review ofthe documontation presented that all necessarypartieshave been served with notice of this application, and further, that the relief requested isappropriate. By order of this court Brown, J, August22,2013) summary judgnent in lieu ofcomplaint was granted against all three defendants in the amount of$875,000 together with costand interest from February 1,20 1 3 .

On or about September 3 0, 20 I 3 counsel for plaintiff received notification that defendant Thomas Giugliano filed for chapter 7 bankruptcy protectionin the Eastem District of New York (case number 8-13-7****'ast)' As a result an automatic stayis in effect. "It is well settled rhat [t]he automatic stay provisions of the Federal bankruptcy laws "do not extend to non bankrupt codefendants" Maynard v. George A. Fuller Co.,236 A'D.2d 300 see also Golden v.Moscowitz, 194 A.D.2d 385 U993]; Centrust Servs' Inc'v.

Guterman,160 A.D'2d 416 ****]; l1 USC $ 362 [a][l] While, rmder certainciroumstances, an automatic stay maybe extended to non-debtors (see e.g. Teacherc Ins. & Annuiy AssnAm. v.

Btttler, 803 F'2d 61 [1986]; Thomson Kernaghan & Co. v.Globat htellicom, Inc., 200OWL 640653, 2000 U.S. Dist. LEXIS6650 [S.D.N.Y.,2000]; ll USC The reoord is devoid of any evidence that such circumstances aro present here" (MerrillLynch, Pierce, Fenner & Smith v Oxford Venture Pattners LLC,13AD3d 89 [ls DePt 2004]).

In this case, howover, there is no evidence that the non-bankupt codefendantscontributed to debtor's efforts to achieve rehabilitation (see Thomson Kernaghan & Co. V GlobalIntellicom, Inc., supra), and, as a result the automadc stay does not apply to the non-filingcodefendants. Therefote, the requested relief is appropriate. Submit amended judgment on notice.This constitutes the decision and order ofthis court.

All applications not specificallyaddressed herein are denied. Dated: Mineola, New YorkJuly 28, 2014 Attorney for Plaintiff Baker Greenspan & Bernstein Esqs.2099 Bellmore Avenue Bellmore, NY 11710

View more comments (9)

Wynelle Brl

New York, New York

Louis Ottimo of Cold Spring Advisory Files Chapter 7 Bankruptcy

Nov 29, 2016

1.0

We’ve been following an interesting case of a former stock broker. he was in the securities industry for many years, and had many sanctions, liens, withheld crucial information in filings, failed to make filings, and was ultimately barred from the industry by FINRA. Now Louis Ottimo of Cold Spring Advisory files Chapter 7 Bankruptcy. Mr. Ottimo has had been attached to controversy most of his career; he’s been sanctioned, been sued, had liens filed, and was attached to many companies that he ran, either on paper or not, that have all either filed bankruptcy and/or been sanctioned by the industry regulatory body (and other agencies).

View full review

Reason of review:

Poor customer service

Contact Information

Website:

www.coldspringadvisory.com

Mailing Address:

445 Park Ave 9th Floor

New York, New York 10022

United States

Phone:

(888) 759-6689

Contact Cold Spring Advisory Group Customer Service

Companies Similar to Cold Spring Advisory Group

It's inappropriate or not family friendly

It's a duplicate by the same member or copied text

It contains commercial or promotional content

It includes private information

Sexual exploitation of children

Sex trafficking / prostitution or advertising of the above

I am affiliated with this business and need to report something about this review or business

I am the author of comment and would like to remove it

I want to report something else

Cancel

Cold Spring Advisory Group

Cold Spring Advisory Group Overview

Good Company

Do not trust

They stole over 7,000 from me

Research

COLD SPRING ADVISORY & LOUIS OTTIMO STOLE MY MONEY AGAIN

Louis Ottimo of Cold Spring Advisory Files Chapter 7 Bankruptcy

Companies Similar to Cold Spring Advisory Group

Everett Financial

Iq Option

TD Ameritrade

CUNA Brokerage Services

Why Trust Reviews on PissedConsumer?