- November 9, 2021
- Cetera Advisors LLC
Ronald Whittingham (CRD#: 4175525) is a dually registered Broker and Investment Advisor at Cetera Advisors, LLC in Orland Park, IL.
He entered the securities industry in 2000 and previously worked for Opus Wealth Management Group; LPL Financial, LLC; FSC Securities Corporation; Advice Network Consultants, LLC; LPL Financial, LLC; and LaSalle St. Securities, LLC.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, FINRA sanctioned Ronald Whittingham, levying a civil and administrative penalty of $5,000, and suspending him from all capacities for three months beginning November 15, 2021 and ending February 14, 2022. The FINRA sanction states, “Without admitting or denying the findings, Whittingham consented to the sanctions and to the entry of findings that he falsified variable annuity replacement disclosure forms that he submitted to his member firm. The findings stated that on each form, Whittingham stated, falsely, that gaining a stepped-up death benefit was one of the reasons that the variable annuity exchange was suitable for the customer. In fact, as Whittingham knew, each variable annuity that was to be replaced had a stepped-up death benefit that, unbeknownst to the firm, was removed at Whittingham’s recommendation immediately prior to the time he recommended the variable annuity exchange. Whittingham recommended to his customers that the death benefits be removed from the existing variable annuities in order to make his recommended exchanges look to the firm as though they were more advantageous to the customer than they were, even though each of the forms identified other, accurate reasons why each exchange was suitable for the customer. The findings also stated that Whittingham caused the firm to maintain inaccurate books and records.”
For a copy of the FINRA sanction, click here.
Ronald Whittingham has no additional disclosures.
For a copy of Ronald Whittingham’s FINRA BrokerCheck, click here.
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