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Ray Reese Embroiled in New Investor Dispute

Feb 15, 2022 Investor Disputes

Ray Reese (CRD #:1694620), a broker registered with Money Concepts Capital, is involved in an investor dispute, according to his BrokerCheck record, accessed on January 20, 2022. He is also an investment advisor registered with Money Concepts Advisory Service.

According to the allegations filed on October 18, 2021, Ray Reese violated federal securities laws as well as the Missouri Uniform Securities Act, breach of contract, common law fraud, breach of fiduciary duty, and negligence. The investor is seeking $100,001一the case is still pending. 

Prior Pending Disputes

  1. On August 9, 2021, Ray Reese was the subject of an investor dispute alleging unsuitable recommendations in violation of FINRA Rule 2111 as well as state securities laws called “Blue Sky Laws.” The investor is seeking $90,000.
  2. On November 30, 2020, Ray Reese was the subject of an investor dispute alleging unsuitable investment, breach of fiduciary duty, violation of Missouri’s Securities Act, common law fraud, breach of contract, and negligence/misrepresentation/omission. The investor is seeking $400,000.
  3. On June 29, 2020, Ray Reese was the subject of an investor dispute. According to the client’s allegations, after inheriting her father’s IRA from his estate, he failed to correctly set up her account, causing a tax liability. The investor is seeking $200,000.

Denied Dispute

On May 8, 2018, Ray Reese was involved in an investor dispute, which has since been denied. The clients accused him of allegedly misrepresenting an illiquid investment, by failing to inform them that the said investment was not publicly traded.

Investors should know that firms can deny disputes without external review. It is also important to note that you can still pursue a FINRA arbitration and recover your losses following a denial.

Background Information

Ray Reese has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He is a registered broker in 12 States and a registered investment advisor in Missouri.

Ray Reese has also worked with the following firms:

  • Pruco Securities Corporation (CRD#:5685)
  • The Prudential Insurance Company of America (CRD#:680)
  • Hibbard Brown & Co. (CRD#:18246)
  • Sherwood Capital (CRD#:10474)

 Kurta Law Can Help

If you have worked with Ray Reese and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 and 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.