Glennon Cole – Moloney Securities – Broker Investigation
Are you concerned about your investments with former financial advisor Glennon James Cole (CRD #1999588)? The White Law Group is investigating potential securities claims involving Glennon Cole and his former employer, Moloney Securities Co., Inc., for possible violations of securities laws.
According to FINRA BrokerCheck, Glennon Cole has reportedly been the subject of at least 16 disclosure events, including more than 10 customer complaints filed by investors alleging claims of unsuitable investment recommendations, negligence, and breach of fiduciary duty.
Investor Complaints Against Glennon Cole
FINRA records indicate that between 2021 and 2024, multiple investors filed FINRA arbitration claims against Glennon Cole. Allegations include:
- Recommending unsuitable alternative investments such as non-traded REITs, direct participation programs (DPPs), and private placements.
- Negligence and misrepresentation in connection with real estate and corporate bond investments.
- Failure to adequately disclose risks and liquidity restrictions associated with certain high-commission investments.
Several of these claims have reportedly settled, including the following:
- September 2021 – $122,500 settlement for alleged unsuitable real estate investments.
- June 2022 – $55,000 settlement related to corporate bond investments.
- April 2021 – $400,000 damages sought for allegedly unsuitable real estate and direct investments.
- May 2022 – $700,000 in damages claimed for unsuitable alternative investments.
- July 2023 – $150,000 in damages sought for negligence involving limited partnerships and DPPs.
These complaints suggest a pattern of recommending high-risk, illiquid investments that may not have been appropriate for the investors’ objectives and risk tolerance.
What is an Unsuitable Investment?
Financial advisors have a duty to make recommendations that are suitable based on a customer’s investment profile, which includes age, risk tolerance, investment experience, and financial goals. Unsuitable investment recommendations can lead to significant losses, especially when involving complex alternative products that carry high fees and liquidity concerns.
Liability of Brokerage Firms – Moloney Securities
Brokerage firms like Moloney Securities can be held liable for failing to supervise their representatives. If a firm fails to properly oversee a broker’s activities or ignores red flags, it may be responsible for investment losses caused by that advisor.
Glennon Cole was reportedly affiliated with Moloney Securities from 2008 until his discharge in 2021, after being disqualified by FINRA. During his time at the firm, several investor complaints were filed regarding his conduct.
Filing a FINRA Arbitration Claim
If you suffered losses due to Glennon Cole’s investment recommendations, you may be able to recover damages through FINRA arbitration. This is a private dispute resolution process that is typically faster and less expensive than litigation.
Our securities fraud attorneys may be able to help you file a claim against Moloney Securities to recover your losses. The White Law Group has handled over 700 FINRA arbitration cases nationwide and recovered millions of dollars for individual investors.
Free Consultation with a Securities Attorney
If you invested with Glennon Cole and are concerned about your investment losses, please call The White Law Group at 888-637-5510 for a free consultation.
To learn more about our firm’s investigation of Moloney Securities and Glennon Cole, visit our website at www.whitesecuritieslaw.com.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
Frequently Asked Questions (FAQs) – Glennon Cole
- What types of investments did Glennon Cole recommend that led to investor complaints?
According to FINRA records, many of the complaints against Glennon Cole involve recommendations of high-risk, illiquid investments such as non-traded REITs, direct participation programs (DPPs), limited partnerships, and private placements. These types of alternative investments often carry high commissions and may not be suitable for conservative or income-seeking investors. - Can I sue Moloney Securities for losses caused by Glennon Cole?
Yes. If you were a customer of Glennon Cole while he was registered with Moloney Securities, and you suffered investment losses due to unsuitable recommendations or broker misconduct, you may be able to file a FINRA arbitration claim against the firm. Brokerage firms can be held liable for failing to supervise their registered representatives. - How do I know if I have a case for FINRA arbitration?
If you experienced unexpected losses, were sold alternative investments you didn’t fully understand, or were encouraged to invest in products that didn’t match your financial goals, you may have a valid claim. A securities attorney can review your investment portfolio and account history to determine whether you may be entitled to compensation through FINRA arbitration.
