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Investor Alleges Ronald Reilly Executed Unsuitable Portfolio Strategy

May 11, 2022 Unsuitable Investments

Ronald Reilly (CRD #: 1275745), a broker registered with Wells Fargo Clearing Services, was involved in a recent dispute, according to his BrokerCheck record, accessed on May 6, 2022. If you want to learn more about Ronald Reilly’s conduct as a broker, keep reading.

Investor Dispute

In a dispute filed on March 17, 2022, an investor alleged that Ronald Reilly executed a portfolio strategy that did not meet her investment objectives between November 23, 2021, and March 17, 2022. The dispute was denied.

However, investors should be aware that firms can deny disputes without allowing an outside review. Investors can still seek FINRA arbitration and recoup their losses following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take their investor’s profile into consideration when recommending investments or forming an investment strategy. Investors’ profiles contain the following information:

  • Age
  • Financial goals
  • Investment objectives 
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors who rely on brokers for investment strategies and recommendations can recoup their losses by pursuing FINRA arbitration.

Background Information

Ronald Reilly 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

Ronald Reilly is a registered broker in 25 states and a registered investment adviser in Utah.

In the past, he has also worked for the following firms:

  • Wells Fargo Investments (CRD#:10582)
  • Morgan Stanley Smith Barney (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • UBS Financial Services (CRD#:8174)
  • Morgan Stanley (CRD#:7556)
  • McDonald Investments (CRD#:566)
  • First Security Van Kasper (CRD#:7665)
  • First Security Investor Services (CRD#:15515)
  • Zions Discount Brokerage (CRD#:17776)
  • Dean Witter Reynolds (CRD#:7556)
  • First Jersey Securities (CRD#:6621)

Kurta Law Can Help

If you worked with Ronald Reilly and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.