Ronald Reed McCook of Scottsdale Arizona a stockbroker currently registered with First Allied Securities Inc. and an investment adviser representative of Cetera investment Advisers LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that the customer had been placed in real estate securities in breach of contract during the time that McCook was associated with First Allied Securities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03230 (Oct. 28, 2019).
According to the claim, misrepresentations had been made to the customer concerning real estate security investments. The claim indicates that the alternative investments were in no way suitable for the customer and that the transactions executed by McCook had not been supervised which led the customer to experienced losses.
McCook has been identified in two more customer initiated investment related disputes containing allegations of his misconduct while employed by securities broker dealers including National Planning Corporation, Sagepoint Financial inc. and First Allied Securities. FINRA Public Disclosure confirms that a customer filed an investment related complaint involving McCook’s activities where the customer sought $17,000.00 in damages founded on allegations that the tax implications on annuity transactions were not made known to the customer prior to a transfer of customer funds.
On April 17, 2018, a customer filed an investment related arbitration claim concerning McCook’s conduct in which the customer requested $1,000,000.00 in damages based upon allegations of fraud and that the customer’s account was not reasonably supervised at National Planning Corporation, Sagepoint Financial and First Allied Securities. FINRA Arbitration No. 18-01349. The claim alleges that misrepresentations and omissions had been made concerning real estate security and annuity products. The claim also alleges that the customer’s account had been overconcentrated in bad investments and that a fiduciary duty had been breached resulting in losses for the customer’s investment account.
McCook has been registered with First Allied Securities since October 7, 2014 and registered as an investment adviser representative of Cetera Investment Advisers since November 12, 2020.