Finra bars former UBS broker

Ronald Broadstone charged with misappropriating client funds
APR 27, 2017
By  Bloomberg

A former broker with UBS in New Albany, Ohio, has agreed to a Finra letter of acceptance, waiver and consent barring him from the securities industry. According to the Financial Industry Regulatory Authority Inc., Ronald Broadstone allegedly misused or misappropriated customer assets, engaged in unauthorized trading, and settled a customer complaint without notifying UBS. Mr. Broadstone worked at UBS from February 2007 through March 2017. Earlier, he spent 10 years with McDonald Investments and 14 years with The Ohio Co. Finra said that on April 18, in on-the-record testimony in connection with Finra's investigation of the case, Mr. Broadstone's attorney advised Finra staff that his client would not answer additional questions, in violation of Finra Rule 8210. The suspension is effective immediately.

Latest News

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave