Investors possibly experienced losses due to securities broker Ronald Michael Reilly (also known as Ron Reilly) [CRD: 1275745, Park City, Utah], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Ronald Reilly joined Wells Fargo Clearing Services LLC and Wells Fargo Advisors on January 3, 2011. Read below for additional information about Ronald Reilly’s disclosures.
Specifically, a client of Wells Fargo Advisors contested Ronald Reilly’s sales practices, according to a complaint. Allegedly, Reilly confirmed their account had been liquidated. Supposedly, he did not liquidate the account. It appears that Reilly caused the client to sustain damages. Therefore, Wells Fargo Advisors opted to settle the matter on May 19, 2020, by compensating the client in the amount of $32,075.
In addition, a Wells Fargo Advisors client filed FINRA Arbitration: 09-07000 about Ronald Reilly. Supposedly, Reilly made unsuitable investments in their accounts from 2006 through 2009. Because of this, the client allegedly sustained damages on stocks. Therefore, on January 25, 2011, Wells Fargo Advisors settled this matter by paying the client $100,000 in damages.
Further, a client of McDonald Investments Inc. contested Ronald Reilly’s sales practices by filing FINRA Arbitration: NASD 02-04983. Allegedly, Reilly caused unsuitable investments to be purchased for the client’s account. Supposedly, the securities broker also engaged in excessive trading. It appears that Reilly caused the client to sustain damages on mutual funds and over-the-counter equities. So, McDonald Investments Inc. opted to settle the matter on August 1, 2003, by compensating the client in the amount of $9,000.
Did you experience losses because of Ronald Reilly? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, represents investors through contingency fees, and advances all costs. Reilly and brokerage firms Reilly worked for deny accusations of sales practice violations.
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