Public records published by the Financial Industry Regulatory Authority (FINRA) on January 5, 2017 indicate that Pennsylvania-based Cambridge Investment Research broker/adviser Ronald Paull III has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Paull (CRD# 2968273).
Ronald Paull has spent nineteen years in the securities industry and has been registered with Cambridge Investment Research in Olyphant, Pennsylvania since September 2015. Previous registrations include LPL Financial in Olyphant, Pennsylvania (2012-2015); National Planning Corporation in Olyphant, Pennsylvania (2008-2012); AIG Financial Advisors in Olyphant, Pennsylvania (2005-2008); SunAmerica Securities in Phoenix, Arizona (2001-2005); and Franklin Financial Services Corporation in Houston, Texas (1997-2001). He is a registered broker and investment adviser with ten US states and territories.
According to his BrokerCheck report, Ronald Paull has received one FINRA sanction and one customer complaint, and was discharged from LPL Financial.
In December 2016 FINRA sanctioned Ronald Paull following allegations he “began contacting customers for whom he sold and serviced variable annuity accounts and obtained their verbal permission to discretionarily rebalance their variable annuity’s separate account on a quarterly basis for a period of one year.” According to FINRA’s findings: “his customers had agreed to Paull’s request, though in each case, Paull failed to obtain written authorization from the customer and his member firm had not accepted the customers’ accounts as discretionary. Paull exercised discretion when rebalancing variable annuity accounts for customers that had verbally consented to this arrangement. The firm was unaware of Paull’s conduct until during an internal branch exam of Paull’s office, Paull voluntarily disclosed to the firm his practice of obtaining standing, verbal authorization to discretionarily rebalance customers’ variable annuity subaccounts.” He was issued a 10-day suspension and a fine of $5,000.
In 2015 Ronald Paull was terminated from his position at LPL Financial following allegations he exercised discretionary trading in variable annuity sub-accounts, in violation of firm policy.
In 2009 a customer alleged Ronald Paull, while employed at Sagepoint Financial, committed fraud, recommended unsuitable investments, acted professionally negligent, breached contract, breached his fiduciary duty. The complaint resulted in an award to the customer of $10,000.
If you or someone you know has lost money investing with Ronald Paull III, 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.