Alton Raney is the Subject of an Investigation in Arkansas

Alton Raney (CRD #: 1497403), a broker registered with St. Bernard Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investigation

On December 6, 2023, the Arkansas Securities Department sent Alton Raney a notice of internet letter stating that they intend to file an action denying registration for allegedly violating rules regarding mutual fund breakpoints. 

What is a Mutual Fund? 

A mutual fund is a portfolio of investments that allows investors to pool their wealth. They can be passively or actively managed. Brokers may earn a large commission from these funds, making them frequent objects of fraudulent trading practices. Investors should also note that brokers are required to notify their investors if they are entitled to breakpoint discounts when they purchase shares of a mutual fund. Failure to do so could be grounds for an investor dispute and FINRA arbitration. 

Background Information 

Alton Raney has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 52TO Municipal Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Representative Examination 
• Series 28 Introducing Broker/Dealer Financial Operations Principal Examination 

During his 36 years of experience, he has registered with 12 firms. These are the four most recent: 

• St. Bernard Financial Services (CRD #: 36956) 
• LPL Financial (CRD #: 6413) 
• Kestra Advisory Services (CRD #: 283330) 
• Kestra Investment Services (CRD #: 42046) 

Kurta Law Can Help 

If you have worked with Alton Raney and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.