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Did Ron Yount Recommend and Misrepresent an Unsuitable Variable Annuity?

Jan 19, 2022 Unsuitable Investments

Ron Yount (CRD #: 4815981), a broker and investment advisor registered with Copper Financial, is involved in an investor dispute alleging he recommended an unsuitable variable annuity and made material misrepresentations and omissions regarding the annuity, according to his BrokerCheck record, accessed on December 26, 2021.  

Investor Allegations 

On November 1, 2021, an investor filed a dispute against Ron Yount, alleging that he made an unsuitable recommendation to purchase a variable annuity. The investor further alleged that Ron Yount also made material misrepresentations and omissions regarding the annuity. The damage amount requested is $800,005the case is still pending. 

This is not Ron Yount’s first unsuitability dispute regarding a variable annuity; on September 25, 2021, an investor filed a dispute alleging that Ron Yount recommended an unsuitable variable annuity. The damage amount requested was $865,000.00; however, the case was denied. Investors should know that they can still recover their losses following a denial.  

Variable Annuities are Risky Investments 

Variable annuities come with different fees, and the contracts are often too complex for investors (and brokers) to understand. The fees can negate any benefit that the variable annuity supposedly offers. This makes most variable annuities unsuitable for most investors. 

Brokers who recommend a security or investment are subject to FINRA rules and regulations.  

FINRA Rule 2111requires registered brokers to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs. 

FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits.  

Ron Yount’s alleged unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.  

Background Information 

Ron Yount 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 7 – General Securities Representative Examination 

Ron Yount is a registered broker in 11 states and is a registered investment advisor in Kansas.  

Besides Copper Financial, Ron Yount has also worked with the following firms: 

  • Cuso Financial Services (CRD#:42132) 
  • Edward Jones (CRD#:250) 

Kurta Law Can Help 

If you worked with Ron Yount and have concerns about your investments, don’t hesitate to 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.