Rod Ferruso Barred By FINRA

FINRA BrokerCheck shows that Rod Ferruso [CRD: 1457661, Morgantown, West Virginia] is the subject of scrutiny due to various investor disputes and regulatory actions during his time with Royal Alliance Associates Inc. in Morgantown, WV (2018 - 2022) and previously with Signator Investors Inc. Summaries of these disclosures are provided below.

FINRA Sanctions Against Rod Ferruso For Non-Cooperation

On September 25, 2023, FINRA issued Case No. 2022076141801 against Rod Ferruso. Notably, Ferruso was barred from associating with any FINRA member in all capacities. This action was in response to Ferruso's refusal to provide testimony as demanded under FINRA rules. The regulator’s inquiry revolved around alleged "short-term trading of certain mutual funds" in client accounts during his time with Osaic Wealth Inc., formerly known as Royal Alliance Associates Inc. Ferruso's non-cooperation hindered FINRA's ability to conduct an investigation into potential misconduct.

Tax Liability Dispute With Signator Investors Inc. Client

On November 21, 2012, a client of Signator Investors Inc. raised issues with Rod Ferruso's sales practices. The client incurred a tax liability purportedly due to Ferruso's actions involving a variable annuity. As a result, the client sought compensatory relief of $16,172 from either Signator Investors Inc. or Ferruso. The complaint was denied.

Have You Incurred Losses With Rod Ferruso?

If Rod Ferruso's actions have negatively impacted your investments, you are encouraged to contact Soreide Law Group online or call (888) 760-6552 to discuss recovering your investment losses. The firm operates on a contingency basis, advancing all costs, and provides nationwide assistance to investors. Ferruso, along with his former employers, Royal Alliance Associates and Signator Investors, denies any allegations of sales practice violations.