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Ron Hoyle Allegedly Recommended the Purchase of an Unsuitable Variable Annuity 

Ron Hoyle (CRD #: 5754179), a broker registered with J.W. Cole Financial, is facing allegations that he recommended an unsuitable investment, according to his BrokerCheck record, accessed on August 10, 2023. Keep reading for more information. 

On May 2, 2023, an investor alleged that Ron Hoyle recommended he purchase a variable annuity with the proceeds of the sale of another variable annuity. The investor alleges this was unsuitable and caused him to pay unnecessary surrender charges resulting in a loss of benefits. The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

What is a Variable Annuity? 

Variable annuities are complex investments that feature an insurance policy with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. The risk associated with the investments makes them unsuitable for many investors. 

Older Investor Dispute

On October 5, 2020, an investor alleged that Ron Hoyle misrepresented investments. The investor sought $400,000 and the dispute settled for $115,000. 

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

Background Information 

Ron Hoyle has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 16 states and is a registered investment adviser in Illinois and Texas. 

Ron Hoyle has registered with the following firms: 

  • JW Cole Financial (CRD #: 124583) 
  • JW Cole Advisors (CRD #: 112294) 
  • Integrated Investment Systems (CRD #: 289296) 
  • Park Avenue Securities (CRD #: 46173) 
  • H. Beck (CRD #: 1763) 
  • Woodbury Financial Services (CRD #: 421) 

Kurta Law Can Help

If you worked with Ron Hoyle and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.