Equitable Advisors’ Ryan Ott Suspended, Facing Investor Disputes

Soreide Law Group has come across some important information relating to Ryan James Ott (CRD#: 6173815, Woodbridge, New Jersey). Notably, FINRA suspended Ott on August 23, 2021. It will potentially bar him by November 1, 2021, if he fails to either cooperate with its inquiry or get his suspension terminated. This comes after Equitable Advisors LLC disaffiliated with Ott and after three clients disputed his sales practices. Here’s more on the disclosures.

FINRA Suspends Ryan Ott For Failing To Respond To Requests

Evidently, the regulator issued the suspension to Ryan Ott in August 2021 because Ott allegedly failed to respond to a Request for Information. It is unclear what information FINRA sought from the broker; however, it might relate to his termination from Equitable Advisors. It also might relate to three investor disputes that surfaced on Ott’s BrokerCheck record from 2017 to 2019. FINRA informed Ott that it might take further action against him by November 1, 2021, if he does not take steps to resolve this suspension.

Equitable Advisors Disaffiliates With Ott For Failing To Respond To Requests Under Heightened Supervision

It appears that Equitable Advisors discharged Ryan Ott in November 2020 for alleged misconduct. Apparently, the company felt uncomfortable continuing to supervise the broker because he did not timely respond to the supervisor’s requests or comply when the company placed him on enhanced supervision.

AXA Client Alleges Omissions By Ryan Ott

Evidently, an AXA Advisors client came forward with a dispute about Ryan Ott in March 2019. It seems that Ott did not tell the client valuable tax information relating to their transfer out of a non-qualified annuity into a brokerage account. Supposedly, the client experienced damages as a result. For this reason, AXA Advisors opted to settle this matter by making a $12,532.54 payment to the client in June 2019.

Client Of AXA Alleges Unsuitable Transactions

Also, a client of AXA Advisors took aim at Ryan Ott’s sales practices in an August 2018 dispute. Namely, the client claimed that they invested in unsuitable investments because of Ott. Also, The securities broker allegedly did not tell the client about surrender charges on their individual retirement account that they opened in 2018. However, AXA Advisors eventually denied this client’s dispute.

Did You Lose Money By Investing Through Ryan Ott?

Did Ryan Ott cause you to incur investment losses? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis. The firm advances all costs. We have recovered compensation for hundreds of United States investors who experienced damages from their financial advisors or securities brokers. Please note that Ott denies all allegations of his sales practice violations.Lars Soreide AVVO 2020 Top Lawyer

CONTACT US