Ronald Knowles Allegedly Breached Fiduciary Duty

 Ronald KnowlesPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 12, 2017 indicate that Louisiana-based Centaurus Financial broker Ronald Knowles has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Knowles (CRD# 272634).

Ronald Knowles has spent 42 years in the securities industry and has been registered with Centaurus Financial in Lake Charles, Louisiana since 2015. Previous registrations include the ON Equity Sales Company in Lake Charles, Louisiana; USAllianz Securities in Lake Charles, Louisiana; Park Avenue Securities in New York, New York; Guardian Investor Services in New York, New York; Lincoln Financial Advisors Corporation in Fort Wayne, Indiana; the Lincoln National Life Insurance Company in Fort Wayne, Indiana; and Lincoln National Pension Insurance Company. He is a registered broker and investment adviser with Louisiana and Texas.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

In March 2017 a customer alleged Ronald Knowles, while employed at the ON Equity Sales Company, breached his fiduciary duty, made unsuitable investment recommendations, and misrepresented material facts. the customer is seeking $17,000 in damages in the pending complaint.

In 2011 a customer alleged Ronald Knowles, while employed at the ON Equity Sales Company, sold unsuitable variable annuity investments. The complaint settled in 2012 for $60,000.

Variable annuities are similar to mutual funds products. They have three primary additional features: a tax-deferred treatment of earnings, a death benefit, and payout options that can provide guaranteed income for the rest of the investor’s life. A common complaint made in connection to variable annuity investments is that a broker or investment adviser failed to inform an investor about the sales charges and fees associated with them, such as the surrender charge: a sales fee incurred when investors withdraw money from the variable annuity within a certain period of time after the purchase—typically within six to eight years, though the specific number depends on the product. Surrender charges are typically used to pay a commission to your broker or investment adviser, and are typically a percentage of the amount withdrawn. Brokers who fail to properly educate their customers about a product’s surrender charge may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you or someone you know has lost money investing with Ronald Knowles, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.