The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Ralph Adamo. According to his publicly available FINRA BrokerCheck report, Ralph Adamo has been the subject of customer disputes and a FINRA sanction.

Ralph Adamo was a California based securities broker. He worked in the securities industry for thirty years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Travelers Equities Sales (1987-1988)
  • CIGNA Financial Advisors (1988-1995)
  • FSC Securities Corporation (1995-2017)

The Allegations

  • In April 2014, a customer alleged that Ralph Adamo recommended an unsuitable annuity product. This case was settled for $20,000 in damages.
  • In November 2017, a customer alleged that Ralph Adamo placed them in an unsuitable investment strategy and solicited a personal loan from them. This case was settled for $280,000 in damages.
  • In November 2019, Ralph Adamo was officially sanctioned by FINRA. The findings in this matter state that he borrowed $520,000 from two member firm customers. He allegedly did this without ever seeking approval from his member firm. Due to these alleged actions, Ralph Adamo was fined $5,000 and was suspended from acting as a securities broker in any fashion for a period of four months.

What Does This Mean?

Most securities firms do not allow their registered brokers to solicit loans from their customers. This is because of the nature of the power dynamic between investors and securities brokers. Brokers hold the position of influence over their customers, and many would see it as unfair to use this influence to solicit a personal loan.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Ralph Adamo, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.