Ron McCook Discloses Dispute From First Allied Client

First Allied Securities Client Takes Issue With Broker Ron McCook's Sales Practices

The Financial Industry Regulatory Authority (FINRA) BrokerCheck shows that investors filed disputes about securities broker McCook, also known as “Ron McCook” (CRD#: 4155186, Scottsdale, Arizona). Evidently, McCook worked for securities firms Sagepoint Financial and National Planning Corporation before joining First Allied Securities as a securities broker and Cetera Investment Advisers LLC as a financial advisor. Read below to learn more about the investor disputes concerning this broker.

First Allied Securities Client Alleges Unsuitable Alternative Investments By Ron McCook

Notably, a client of First Allied Securities disputed Ron McCook's sales practices in November 2019. The FINRA Arbitration Claim alleged McCook’s unsuitable alternative investment recommendations in 2015. The investor also alleges breach of contract and misrepresentation in connection with McCook’s real estate security transactions. Also, the client alleges that First Allied Securities failed to supervise. For this reason, the client asked for compensation. It appears that First Allied Securities agreed to pay the client $52,000 to settle this matter in May 2021.

Breach Of Fiduciary Duty Alleged At First Allied Securities

Notably, a client brought a FINRA Arbitration Claim in April 2018 against First Allied Securities, National Planning Corporation, and Sagepoint Financial. The matter concerns actions by Ron McCook and another First Allied Securities broker, Travis G. Blaser (CRD#: 4228055, Scottsdale, Arizona) relating to investments, including Griffin Capital Essential; American Realty Capital Healthcare Trust II; Global Net REIT; Ridgewood Energy; Cole Capital; NorthStar Healthcare Income; UIT Advisors Bond Fund; and annuities issued by MetLife, Jackson, AXA, and Midland. The Arbitration Panel determined that First Allied Securities was liable. The Statement of Claim alleges misrepresentation, breach of fiduciary duty, breach of contract, failure to supervise, and negligence. The Panel ordered the securities firm to pay $1,961,500 in compensatory damages.

National Planning Corporation Client Alleges Ron McCook’s Failure To Disclose Tax Consequences

Also, a client of National Planning Corporation alleged omissions concerning a variable annuity. Supposedly, the client was not told about the tax consequences of the transfer of funds from their annuity. However, National Planning Corporation denied this complaint.

Did You Sustain Damages Through McCook?

Did Ron McCook cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a 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 compensation for many United States investors who incurred losses because of their financial advisors and securities brokers. Please note that McCook denies all allegations of his sales practice violations.