Ray Ferro (CRD #1927831), a previously registered broker and investment adviser, has settled a dispute with a client alleging a wrongful transfer from the client’s bank account to his own bank account, according to his BrokerCheck record, accessed on November 3, 2020. This is not the only disclosure on Mr. Ferro’s record.

On September 28, 2020, a client alleged that between April 2011 and January 2013, she gave Ray Ferro 28 personal checks in an aggregate amount of $140,852, representing funds to be invested in unspecified investments. The client is seeking $140,852; the dispute is pending.

On February 28, 2020, a client alleged that Ray Ferro wrongfully transferred $330,000 from the client’s bank account to his own bank account. The client sought $990,000; the dispute settled for $1,569,281.

On September 20, 2014, the IRS imposed a tax lien on Ray Ferro for $15,205.26.

On April 10, 2003, a client alleged that Mr. Ferro made unsuitable investment recommendations. The client sought $120,000; the dispute settled for $14,250.

Ray Ferro has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 31 Futures Managed Funds Examination, and the Series 7 General Securities Representative Examination.

Ray Ferro worked at 7 firms during his 22 years in the securities industry:

  • Woodbury Financial Services Inc. (CRD #: 421)
  • Next Financial Group, Inc. (CRD #: 46214)
  • LPL Financial Corporation (CRD #: 6413)
  • Wachovia Securities LLC (CRD #: 19616)
  • McDonald Investments (CRD #: 566)
  • Key Investments Inc. (CRD #: 15873)
  • Dean Witter Raynolds (CRD #: 7556)

If Ray Ferro was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for a free case consultation with a securities attorney.

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