Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ryan Fleming (Fleming), previously associated with Cantella & Co., Inc., has at least one disclosable event. These events include one tax lien, alleging that Fleming recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on December 10, 2024.
On December 10, 2024, the Securities Division entered into a Consent Order with The Pilot’s Advisor, LLC and Ryan Joseph Fleming (‘Respondents’). The Securities Division alleged in the Consent Order that the Respondents unlawfully held The Pilot’s Advisor, LLC out as a Washington registered investment adviser when, in actuality, it was not registered as an investment adviser in Washington. Additionally, Respondents engaged in misleading advertisement that included use of performance returns that were based on fictitious characters, and not based on actual client performance. The advertisement was further misleading because it included 20-year performance data when the Respondents have less than 20 years of experience in the investment advisory business. In settling the matter, the Respondents agreed to cease and desist from violating the Securities Act. The Respondents further agreed to pay a fine of $20,000 and reimburse the Securities Division $2,500 for its costs of investigation. The Respondents waived their right to a hearing and to judicial review of the matter.
