Ray Weldon Lawsuit Investigation – Independent Financial Group Broker Facing Nine Complaints
The White Law Group is investigating potential securities claims involving C. Raymond (Ray) Weldon (CRD #1030659), a financial advisor and broker currently registered with Independent Financial Group in Boca Raton, Florida. If you suffered investment losses with Weldon, you may be entitled to recover damages through a FINRA arbitration claim.
Who Is Ray Weldon?
Broker C. Raymond “Ray” Weldon has worked in the securities industry for decades. He is currently with Independent Financial Group but was previously employed with Cetera Advisor Networks, The Investment Center, and his own firm Weldon & Co.
According to FINRA BrokerCheck, Weldon has nine customer complaints alleging misconduct such as unsuitable recommendations, breach of fiduciary duty, negligence, and failure to supervise.
Complaints and Allegations Against RayWeldon
FINRA records highlight a troubling history of investor disputes:
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May 2025 – Customers allege Weldon violated rules and industry standards of conduct resulting in losses. Damage amount requested is $400,000.
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March 2023 – Customers alleged Weldon overconcentrated investments in similar securities, causing losses. The claim settled for $300,000.
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March 2023 & June 2024 – Investors alleged unsuitable trading strategies; both complaints were settled.
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July 2023 – A pending claim seeks $1 million in damages for breach of fiduciary duty, negligence, misrepresentation, and failure to supervise.
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2024–2025 – Multiple additional complaints alleged Weldon recommended risky, unsuitable investment strategies that failed to match client needs.
In total, Weldon has been the subject of at least nine customer complaints.
Risky Strategies Allegedly Recommended by Ray Weldon
Several complaints allege that Weldon promoted a high-risk investment strategy that combined:
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Concentrated stock positions
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Borrowing on margin (using debt to purchase investments)
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Insurance products, including Indexed Universal Life (IULs) and annuities
According to allegations, Weldon represented that stock gains would cover margin interest and expensive insurance premiums. Instead, investors found themselves facing spiraling margin debt, unaffordable premiums, forced liquidations, and devastating portfolio losses.
Brokerage Firms’ Duty to Supervise
While Weldon may have recommended the strategies, his brokerage firms also bear responsibility. Under FINRA Rule 3110, firms like Cetera Advisor Networks and Independent Financial Group have a duty to supervise their brokers to ensure compliance with industry rules and to protect clients from unsuitable advice.
If a firm fails to reasonably supervise an advisor, it may be held directly liable for investor losses.
Suitability and Regulation Best Interest (Reg BI)
The core of many investor claims is suitability. Under FINRA Rule 2111, brokers must ensure that investments are suitable for each client’s age, income, risk tolerance, and financial goals.
Additionally, under the SEC’s Regulation Best Interest (Reg BI), financial professionals are required to act in the best interest of the client — not their own. Failure to comply may result in liability for both the broker and the firm.
How to Know If You Were Affected
You may have been impacted by Weldon’s recommendations if:
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You worked with Ray Weldon between 2017–present at Cetera Advisor Networks or Independent Financial Group.
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You invested in Indexed Universal Life (IULs), annuities, or illiquid investments.
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You faced unexpected losses, margin calls, or had to liquidate investments prematurely.
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Your portfolio became overconcentrated in risky or unsuitable products.
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You were not fully informed of the risks and costs of your investment strategy.
Options for Recovery – FINRA Arbitration vs. Class Action
If you suffered significant losses (often $100,000 or more), filing an individual FINRA arbitration claim is typically the best recovery path. FINRA arbitration is:
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Faster and less expensive than court litigation
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Allows claims against both the advisor and the brokerage firm
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Tailored for securities disputes
Class actions may be available for smaller claims but are generally less effective for individual investors.
Frequently Asked Questions
How many complaints are there against Ray Weldon?
As of 2025, Weldon has nine customer complaints alleging unsuitable recommendations, negligence, and breach of fiduciary duty.
What investments are involved in the allegations?
Complaints reference concentrated stock positions, margin accounts, Indexed Universal Life policies, and annuities.
Can I recover losses from Independent Financial Group or Cetera?
Yes. If these firms failed to supervise Weldon, they can be held liable for investor losses.
How do I file a FINRA arbitration claim?
A claim begins with a Statement of Claim filed with FINRA. Our attorneys can guide you through the process of pursuing damages.
Free Consultation with Securities Attorneys
If you suffered losses while working with Ray Weldon, Independent Financial Group, or Cetera Advisor Networks, contact The White Law Group for a free consultation.
? Call (888) 637-5510 or visit our website to schedule your evaluation.
Last modified: September 2, 2025
