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WARNING! Impending Investigation – RYAN MURNANE and WOODSTOCK FINANCIAL

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28
Jan

WARNING! Impending Investigation – RYAN MURNANE and WOODSTOCK FINANCIAL

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WARNING!  Impending Investigation – RYAN MURNANE and WOODSTOCK FINANCIAL

Ryan Murnane, Woodstock Financial Group, and Excessive Trading

 

Have you lost money with financial advisor Ryan Murnane of Staten Island, New York?  We are investigating allegations made by the Montana Securities Commission against Ryan M. Murnane and his former brokerage firm, Woodstock Financial Group.  According to the complaint filed against Murnane and Woodstock Financial Group, Murnane’s customer had significant investment losses .

 

Montana alleged that this customer had an annual portfolio turnover of 22.29 and 16.74, more than 2 times the amount that is deemed to be “conclusive” of excessive trading or churning.   The customer also had paid commission of over $86,000 while suffering investment losses over $99,000.  Montana seeks to fine Murnane and Woodstock Financial Group, along with Joseph Derrico, the advisor that allegedly had a commission-sharing arrangement with Ryan Murnane.

 

Ryan Murnane was also a representative of Woodstock Financial Group from July 2015 to February 2017.  He worked at a branch office in Staten Island, New York.  Murnane has six customer complaints on his record, as well as two tax liens.  Murnane was also terminated by Woodstock Financial Group for failing to disclose his tax liens.

 

Brokerage firms like Woodstock Financial Group have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Vancouver, Washington; and Denver, Colorado.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Montana. Our attorneys have represented over one thousand investors against many brokerage firms in the past.

 

Click to view:  Woodstock Financial BrokerCheck 2.12.18

Click to view:  Murnane, Ryan Montana Complaint

Click to view:  Murnane, Ryan BrokerCheck 2.12.18

 

If you lost money with Ryan M. Murnane or Woodstock Financial Group, please CONTACT US at 720-599-3505 for a free evaluation of your case.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.

 

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