• April 19, 2024
• Pinnacle Securities

Ronald Luther Bucher (CRD#: 1804910) was a previously registered broker and investment advisor.

Broker’s Background

He entered the securities industry in 1988, and previously worked with Glickenhaus & Co.-New Jersey; Dean Witter Reynolds, Inc.; Moore & Schley, Cameron & Co.; Hanifen, Imhoff Securities Corp.; Josephthal & Co., Inc.; Josephthal Lyon & Ross Incorporated; Prudential Securities Incorporated; A.G. Edwards & Sons, Inc.; Stanford Group Company; McDonald Investments, Inc.; Raymond James & Associates, Inc.; Oppenheimer & Co. Inc.; Pinnacle Investments, LLC; and San Blas 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 April of 2024, Ronald Bucher became the subject of a customer dispute where claimants alleged, “claims of breach of fiduciary duty, breach of contract, violation of Illinois Securities Act, negligence/negligent misrepresentation/omission, fraud, restitution, and negligent supervision relating to unspecified investments. 7/1/2018 to 7/1/2023.” The damage amount requested is $2,000,000 and the customer dispute is still pending.

In addition, Ronald Bucher has been the subject of several other disclosures, which include the following:

• December 2023—Indefinitely barred by FINRA: “Without admitting or denying the findings, Bucher consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into the allegations his member firm made in a Form U5 filing. The findings stated that allegations included communicating with customers via text messages and personal email. Although Bucher produced some information in response to the request, he failed to produce other information, including the requested customer communication.” For a copy of the Disciplinary Action Details, click here.

 

• August 2023—“Client alleges investments were not in line with stated objective and transactions were not authorized. Client states this activity spans the length of the relationship with the representative.” The damage amount requested is $77,772.32 and the customer dispute is still pending.

 

 

• August 2023— “Customer alleges account was not managed in a manner consistent with stated objectives and transactions were made without their knowledge. Client indicated this has been consistent throughout the relationship with the representative.” The customer dispute is still pending.

 

• July 2023—Discharged by Pinnacle Investments, LLC: “Violating company policy by communicating with a client through text and failing to disclose that violation on a FINRA 8210 form.”

 

• June 2023— “On 6/6/23 Pinnacle compliance spoke to client as a follow up to client e-mail referencing a decline in his account values. During this call no formal complaint was made by the client nor was any claim of damages made. Client only reiterated his decline in value as well as a decline in verbal communication during 2022/23. After further investigation Pinnacle determined that the broker had been primarily communicating about the accounts with this client through text instead of verbally. That is a violation of company policy, and the broker was terminated. As of the last call made by Pinnacle compliance to the client no formal complaint or damage claim has been made by the client outside of the use of unregulated texting.” The customer dispute is still pending.

 

• March 2022— “Through email the client is seeking an explanation for the securities held in their account. As there are unrealized losses they are questioning as well as how that can be considered safe investing with losses. The client indicated they directed the representative to use ultra safe investments. The client also indicated that they are responsible for the gains and losses in their account as they direct the representative on certain securities they would like to buy. The date of the email is 3/23/2022.” The damage amount requested was $18,173.67 and the customer dispute was withdrawn.

 

• August 2020—Civil Judgment/Lien for $30,325.23.

 

• July 2018—Voluntary Resignation from Raymond James & Associates: “FA was interviewed concerning a trade he had executed in a deceased client’s account and was also notified that the Firm would be contacting some of his clients to determine whether he had spoken with them prior to executing trades in their non-discretionary accounts. FA resigned after several of his clients were contacted and he was made aware that multiple clients had stated he had not been speaking with them prior to executing trades in their accounts.”

 

• February 2018—Financial Disclosure: “Short sale + Promissory Note.”

 

• October 2002— “FIDUCIARY RELATIONSHIP, UNAUTHORIZED TRADING, MISREPRESENTATION & COMMISSIONS, BREACH OF CONTRACT, NEGLIGENCE, COMMON LAW FRAUD.” Claimants were awarded $10,000.

 

• May 1990—Discharged by A.G. Edwards & Sons, Inc: “EXERCISED TIME DISCRESSION BEYOND 24 HOURS WITHOUT MORE THAN VERBAL INSTRUCTIONS. RULES REQUIRE WRITTEN AUTHORIZATION FOR LONGER THAN 24 HOURS. THERE WAS NO CUSTOMER COMPLAINT. CLIENT WAS HAPPY AND QUITE SUPRISED BY MY DISMISSAL OVER THIS ISSUE.”

 

• April 1997— “Nonsuitability.” The customer dispute settled for $13,500.

 

For a copy of Ronald Bucher’s FINRA BrokerCheck, click here.

 

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

 

In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.

 

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 mwolper@wolperlawfirm.com.