- September 14, 2021
- DMK Advisor Group
Dale Rampsberger (CRD#: 1601669) is a dually registered Broker and Investment Advisor at DMK Advisor Group, Inc. in Lakewood, CO. He entered the securities industry in 1987 and previously worked for Securities America Advisors, Inc.; Titan/Value Equities Group, Inc.; Value Equities Corporation; and Principal Investors Corporation.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in August 2021, FINRA sanctioned Dale Rampsberger, suspending him from all capacities for five months, beginning on September 20, 2021 and ending on February 19, 2022. The FINRA sanction states, “Without admitting or denying the findings, Ramsperger consented to the sanction and to the entry of findings that he participated in a private securities transaction without prior written disclosure to his member firm. The findings stated that Ramsperger notified two former customers of the firm about an investment opportunity in a media company that he served as a minority shareholder and as an executive, who ultimately invested in the company by purchasing a promissory note in the total amount of $250,000. Ramsperger drafted the note and related documents, provided the documents to the customers for execution, and signed the note on behalf of the media company. At the end of the investment’s five-year term, one customer agreed to reinvest in the company and Ramsperger drafted a revised promissory note that he also executed on behalf of the media company. Ramsperger did not receive selling compensation for participating in the private securities transactions. Ramsperger’s failure to provide prior written notice to the firm is aggravated by the fact that he did not disclose that he was engaged in a private securities transaction on several attestations he provided to the firm.”
For a copy of the FINRA sanction, click here.
In addition, Dale Rampsberger has been the subject of two disclosures, including the following:
● January 2020–“Failure to follow Firm policies and procedures relating to borrowing funds from customers or prospective customers.” Dale Rampsberger was discharged from Securities America, Inc.
● October 1973–Dale Rampsberger was convicted of a misdemeanor charge of marijuana possession.
For a copy of Dale Rampsberger’s FINRA BrokerCheck, click here.
The Financial Industry Regulatory Authority (FINRA) strictly prohibits financial advisors from “selling away” or selling securities and investments to clients that are not offered by the brokerage firm with which they are employed. For example, it is illegal and a violation of industry rules for a financial advisor to recommend or even suggest that a client invest in the financial advisor’s own business or a business operated by his or her friends or family. It is not necessary that the financial advisor earn any compensation for recommending an outside investment.
The purpose behind this prohibition is to ensure that a financial advisor only offers to sell securities that have been vetted by his or her employer brokerage firm through a rigorous due diligence process. Most brokerage firms have an approved list of investments, products, and research that can be provided or made available to clients. Any deviation by the financial advisor from the approved product list may constitute selling away.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at email@example.com.