The White Law Group is investigating potential securities claims involving Ray Weldon (Charles Raymond Weldon). If you have suffered investment losses, the securities attorneys at The White Law Group may be able to help you by filing a FINRA lawsuit.
Table of Contents
- Independent Financial Group Broker Ray Weldon has Five Customer Complaints
- Unsuitable Investment Strategy
- FINRA BrokerCheck – C. Raymond Weldon
- Regulation Best Interest
- Class Action Lawsuit vs. Individual FINRA Arbitration Lawsuit
- Free Consultation with National Securities Attorneys
- About The White Law Group
Broker C. Raymond (Ray) Weldon (CRD # 1030659), an Independent Financial Group broker who was reportedly formerly employed by The Investment Center and Cetera Advisors, purportedly has five complaints filed against him. According to FINRA, Weldon, based in Boca Raton, Florida, reportedly formerly operated his business under the name Weldon & Co.
In March 2023, Weldon customers alleged that their portfolios were overconcentrated in similar securities, which resulted in losses. The claim reportedly settled for $300,000.
Two customer complaints, one in March 2023 and the other in June 2024, alleged that the trading strategy was unsuitable. According to FINRA records, both complaints reportedly reached a settlement.
In July 2023, a customer of Ray Weldon reportedly filed a complaint alleging “breach of fiduciary duty, negligence, misrepresentation and failure to supervise.” The complaint is reportedly seeking damages of $1,000,000 and is currently pending.
Unsuitable Investment Strategy
Unsuitable investments refer to financial products that are unsuitable for your investment goals, risk tolerance, or financial situation. These investments are typically recommended or sold by brokers or financial advisors who may not have properly assessed your individual needs or provided appropriate advice. Several of the complaints against Ray Weldon alleged that he encouraged them to pursue an unsuitable investment strategy.
FINRA Rule 2111 requires that a firm or its representative have a reasonable basis to believe a recommended transaction or investment strategy involving security suits the customer. According to Rule 2111, brokers must have a firm understanding of both the product and the customer. The lack of such an understanding itself violates the suitability rule.
Firms that fail to perform adequate due diligence in investigating customer complaints like those filed against Ray Weldon or that make unsuitable recommendations can be held responsible for losses in a FINRA arbitration claim.
FINRA BrokerCheck – C. Raymond Weldon
The BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA. The report also provides viewers insight into any regulatory actions against the broker and a breakdown of any relevant licenses they possess. According to his broker report, Ray Weldon was reportedly registered with the following firms when customers filed the previously mentioned complaints against him:
- INDEPENDENT FINANCIAL GROUP, LLC (CRD#:7717) Boca Raton, FL Registered with this firm since 4/6/2022
- 01/29/1997 – 05/23/2022, WELDON & COMPANY (CRD#:129099) BOCA RATON, FL
- 02/16/2022 – 03/30/2022 THE INVESTMENT CENTER, INC. (CRD#:17839) BOCA RATON, FL
- 10/25/2017 – 02/23/2022 CETERA ADVISOR NETWORKS LLC (CRD#:13572) BOCA RATON, FL
Regulation Best Interest
FINRA-registered Broker-dealers are required to conduct thorough due diligence before recommending investments under the “Regulation Best Interest” standard. Suppose a financial advisor fails to meet this obligation before making a recommendation, as was the case with Ray Weldon and the source of the customer complaints against him. In that case, they may be liable for any resulting investment losses.
If you have suffered investment losses due to an unsuitable investment recommendation, the securities attorneys at The White Law Group may be able to help you. You can recover your losses by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.
Class Action Lawsuit vs. Individual FINRA Arbitration Lawsuit
You may wonder whether a large class action lawsuit is a better litigation option than an individual FINRA lawsuit when pursuing complaints similar to the ones levied against Ray Weldon. The answer depends on many factors, but an individual arbitration claim is likely better if the loss sustained is significant (say, more extensive than $100,000). Class action lawsuits as a recovery option are more appropriate for grouping large numbers of individuals who have small claims – too small to generally pursue individually.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Ray Weldon and Cetera Advisor Networks or Independent Financial Group, the securities attorneys at the White Law Group may be able to help you by pursuing your complaint through a FINRA lawsuit. For a free consultation with a securities attorney, please call (888) 637-5510.
About The White Law Group
The White Law Group, LLC, is a national law firm that specializes in securities fraud, arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, Illinois, and Seattle, Washington, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms, including complaints similar to those filed against Ray Weldon. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
With more than 35 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Frequently Asked Questions
What types of investments are commonly associated with unsuitable investment recommendations?
Unsuitable investment strategy complaints like those against Ray Weldon typically involve several investment products. This includes:
- Illiquid Investment products: Private placements and non-traded REITs are poor fits for investors who need immediate access to liquid cash. Both investment products typically only allow investors to liquidate their investments after a specified period. Alternatively, investors may only sell their shares periodically in narrow timeframes.
- Complex Investment Products: Many unsuitable investment complaints, like those filed against Ray Weldon, involve complex investment products, such as derivatives and structured products. Inexperienced or unsophisticated investors may lack knowledge of these investments’ mechanics and thus fail to understand the potential risk of investing in them.
- High-risk Investments: Every investor has a different risk tolerance level. Risky investment products, such as speculative stocks and options trading, are thus a poor fit. Financial advisors need to understand their clients’ risk tolerance and only recommend investment products that align with it.
What is the typical process for filing a FINRA arbitration claim?
The FINRA arbitration claim process varies depending on the size of the claim. All claims of $100,000 or greater require an in-person hearing in front of a panel of three arbitrators, while claims totaling $50,000 or less require only one arbitrator.
With the help of an attorney experienced in pursuing FINRA arbitration cases, clients file a Statement of Claim with FINRA, which provides details such as the nature of the dispute and the parties involved. Clients then pay a filing fee commensurate with the size of the claim.
From there, FINRA provides a list of potential arbitrators. Similar to court cases, either side can choose to strike several arbitrators. A preliminary hearing is then held to outline procedures and set the schedule. Finally, the hearing occurs. During the hearing, arbitrators hear testimony from both sides. Eventually, they issue a binding ruling.
Last modified: April 17, 2025
