INVESTOR ALERT—Centaurus Financial Broker, Ralph Quintana, Has Pending Customer Complaint For Allegedly Failing To Disclose Material Facts Regarding An Investment

The Wolper Law Firm is currently investigating claims against Ralph Quintana, a Financial Advisor at Centaurus Financial in Upland, California.  Ralph Quintana has been in the securities industry since the 1990s and previously worked at LPL Finanical.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on April 11, 2018, a customer filed a complaint against Ralph Quintana, which “alleges the investments were unsuitable and that the fees, surrender charges and terms were not adequately disclosed.”  The alleged damages are $143,775 and the matter remains pending.

In addition, Ralph Quintana has prior customer complaints for various alleged sales practice violations, including the following:

• November 2015—“Claimants allege representative sold unsuitable variable annuity and C-share transactions.” Alleged damages were $66,000.
• August 2009—“Plaintiffs allege they were the victim of churning.” The matter was settled for $230,203.

In 2013, Ralph Quintana’s prior employer, LPL Financial, launched an investigation into his sales practices regarding variable annuities.  During the investigation, Ralph Quintana voluntarily resigned and began working at Centaurus Financial.

To review all customer complaints and disclosures against Ralph Quintana, click https://brokercheck.finra.org/individual/summary/2284803#disclosuresSection

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Ralph Quintana and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

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.