Glen Cole Involved In Moloney Securities Client Dispute About Purportedly Unsuitable Investments
Soreide Law Group comes to you with new information in regard to securities broker Glennon “Glen” James Cole (CRD#: 1999588, Manchester, Missouri). Evidently, Cole is a former Moloney Securities Co. Inc. securities broker. He also used to work for firms First Brokerage America, Huntleigh Securities Corporation, Summit Brokerage Services, UBS PaineWebber Inc., and Edward Jones. Notably, it appears that six investors filed disputes alleging sales practice violations by Cole. Here’s a summary of these disclosures.
Moloney Securities Client Alleges Unsuitable Real Estate Securities, Direct Investments By Glen Cole
Specifically, in April 2021, a client of Moloney Securities Co. Inc. disputed Cole’s sales practices. Namely, the client alleged that Cole sold unsuitable direct investments and real estate securities. Suitability involves an analysis of a client’s risk tolerance, investment objectives, financial needs, and investment experience, among other things. It appears that the client experienced damages by investing in these alternative investments through Cole. For this reason, they ask for $400,000 in damages in this ongoing matter.
Moloney Securities Discharges Cole
It appears that Moloney Securities employed Cole from September 2012 to February 2021. Notably, Moloney Securities discharged Cole based upon allegations of a “FINRA disqualification” because of Cole’s plea of guilty to a crime. According to BrokerCheck, Cole pleaded guilty to a criminal charge in Missouri, and a Missouri court issued him five years’ probation.
UBS PaineWebber Client Alleges Unauthorized Trading By Glen Cole
Evidently, a UBS PaineWebber client brought a dispute about Cole. In the May 2002 complaint, the client alleges that Cole engaged in unauthorized trading. In addition, Cole purportedly used margin against the client’s instructions. For this reason, UBS compensated that client in a settlement.
Client Of UBS Alleges Unauthorized Trading
A second UBS PaineWebber client brought a complaint that concerned allegations of Cole’s unauthorized trades. Supposedly, Cole bought stocks without the client’s permission. For this reason, the client sought compensation. However, the firm denied this dispute.
Losses Through Glen Cole?
Did you suffer losses because of Glen Cole? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for United States investors who have incurred losses from their financial advisors and securities brokers. Please note that Cole denies all allegations of sales practice violations.