Ron Paull (CRD #: 2968273), a broker registered with Cambridge Investment Research in Archbald, Pennsylvania, is involved in an investor dispute regarding unsuitable mutual fund investments, according to his BrokerCheck record, accessed on March 1, 2021.
On January 27, 2021, investors alleged that Ron Paull recommended mutual funds and alternative investments that were unsuitable for their conservative investment profile. Alternative investments are always risky and are not suitable for most investors. The investor is seeking $90,000; the dispute is pending.
Two Regulatory Disclosures
On January 31, 2018, Ron Paull entered into a Stipulation and Consent agreement with the New York State Department of Financial Services. This agreement followed allegations that Paull provided materially incorrect and untrue information on his original application for a broker’s license. The State further alleged that Paull failed to disclose that he was named in a FINRA administrative proceeding. As part of the agreement, Paull consented to a fine of $750.
The New York Consent agreement is not Paull’s only regulatory disclosure. On December 8, 2016, Ron Paull of Cambridge Investment Research entered into an Acceptance, Waiver, and Consent agreement (AWC) with FINRA, in which he consented to the finding that he had exercised discretion in investor accounts without obtaining written authorization, in violation of FINRA Rule 3260.
Paull serviced variable annuity accounts for 80 investors. In 2014, Paull began contacting investors for verbal permission to rebalance their variable annuity accounts on a discretionary basis. According to the AWC, by 2015, 71 investors had agreed to let Paull exercise discretion in their accounts, but Paull failed to obtain their written authorization.
As part of the terms of his AWC, Paull consented to a fine of $5,000 and a 10-day suspension. You can see a copy of the AWC here.
Earlier Investor Disputes
Before this AWC, Ron Paull was fired from LPL Financial on August 8, 2015, following allegations of his discretionary trading in variable annuity accounts.
On May 8, 2014, an investor alleged that Paull recommended unsuitable investments and misrepresented certain securities. The investor further alleged poor performance. The investor sought $29,222.53 and the dispute settled for $23,000.
Ron Paull has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Agent State Law Examination, the Series 7 General Securities Representative Examination, and the Series 6 Investment Company Products / Variable Contracts Representative Examination. He is a registered broker in 10 states and a registered investment adviser in Pennsylvania and Texas.
During his 23 years of experience, Paull has registered at 23 firms:
- Cambridge Investment Research (CRD #: 39543)
- Cambridge Investment Research Advisors (CRD #: 134139)
- LPL Financial (CRD #: 6413)
- Advantage Investment Management (CRD #: 146236)
- National Planning Corporation (CRD #: 29604)
- AIG Financial Advisors (CRD #: 133763)
- SunAmerica Securities (CRD #: 20068)
- Franklin Financial Services Corporation (CRD #: 5435)
If Ron Paull was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for a free case consultation with a securities attorney.