Drivewealth Institutional is a broker-dealer based in New York, NY, that has not yet been scored, with 16 registered advisors. Score based on public SEC and FINRA filings.
registered
Drivewealth Institutional
Drivewealth Institutional LLC · CRD #33038
A registered broker-dealer.
No longer registered
This firm's FINRA registration ended. We don't score firms that are no longer registered.
The firm’s regulatory record stays available below. A firm can stop being registered for many ordinary reasons, including closing, merging, or the owner retiring.
Fidelon Fact Sheet
DriveWealth Institutional LLC is a broker-dealer in New York, NY that also offers advisory services. It used to be called Cuttone & Co., Inc. and Cuttone & Co., LLC. The firm earns advisory fees. FINRA has taken regulatory action against the firm in 2022, 2021, and 2021.
How This Firm Works
Registration & Standard of Care
Broker-Dealer — this firm is a broker-dealer. Representatives may earn commissions on products they sell, held to a suitability standard rather than a fiduciary one.
How This Firm Gets Paid
- Representatives can earn commissions on product sales
Key Findings
Things You Should Know
- 3 regulatory complaints reported by FINRA
- $115K in regulatory fines
- Broker-dealer only — not legally required to put your interests first
Conflict Audit
Our analysis identified 1 potential conflict of interest in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
Regulatory Track Record
3
Disclosures
$115K
Total Fines
Regulatory Events
Advisor Roster
16 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Venu Madhav Palaparthi | 2437777 | — | — |
| Matthew Alexander Sims | 2542260 | — | — |
| Ronald John Madarasz | 1769473 | — | — |
| Thomas Joseph Facchine | 1852754 | — | — |
| Anthony Ilario | 2262100 | — | — |
| Paul Andrew Gonoud | 3151453 | — | — |
| Eric Pond | 6069469 | — | — |
| Collin Schiffer | 6074067 | — | — |
| Patrice Lynn Maher | 4216432 | — | — |
| Marcus Russell Anthony | 6361404 | — | — |
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Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
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Last scored: · Score version: 3.8 · CRD #33038