- July 17, 2023
- Morgan Stanley
Ron Filoramo (CRD#: 3270398) is a previously registered Broker and previously registered Investment Adviser.
He entered the securities industry in 1999 and previously worked for Morgan Stanley; Wells Fargo Advisors, LLC; UBS Financial Services, Inc.; Ladenburg Capital Management, Inc.; and Ladenburg, Thalmann & Co., Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2023, Ron Filoramo was discharged by Morgan Stanley. The allegation states, “Advisor terminated following allegations he fraudulently induced clients to transfer funds to purported investments that were never made.”
In addition, Ron Filoramo has been the subject of four customer complaints, including four that remain pending, including the following:
- April 2023 — “Client alleges her financial advisor induced her to transfer funds to a purported outside investment that cannot be located. 2020-2022.” The customer dispute is pending. Damages of $62,000 are requested.
- April 2023 — “Client alleges her financial advisor fraudulently induced her to transfer funds to purported outside investments that were never made. 2016-2018.” The customer dispute is pending, and damages of $290,000 are requested.
- April 2023 — “Client alleges his financial advisor fraudulently induced him to transfer funds to purported outside investments that were never made. 2021.” The customer dispute is pending, and damages of $172,133.75 are requested.
- March 2023 — “Client alleges his financial advisor fraudulently induced him to transfer funds to purported outside investments that were never made. 2014-2019.” The customer dispute is pending, and damages of $335,850 are requested.
For a copy of Ron Filoramo’s FINRA BrokerCheck, click here.
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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.
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