Manuel Ramos Allegedly Recommended Illiquid Investments

Manuel Ramos (CRD #: 1956224), a broker registered with Centaurus Financial, is the subject of a six-figure investor dispute. This dispute appears on his BrokerCheck record, accessed on September 29, 2023. Investors should know that this is the fifth investor dispute on his record. 

On July 5, 2023, an investor alleged that Manuel Ramos recommended illiquid investments with declining values and high fees. The investor is seeking $100,000. 

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Recommendations of illiquid investments. These investments may lead to high fees for the investor.
• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Manuel Ramos has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 15 states and is a registered investment adviser in 14. 

Manuel Ramos has registered with the following firms: 

• Centaurus Financial (CRD #: 30833) 
• SPC (CRD #: 110692) 
• Sammons Securities Company (CRD #: 115368) 
• Tower Square Securities (CRD #: 833) 
• Advantage Capital Corporation (CRD #: 146) 
• Pruco Securities Corporation (CRD #: 5685) 
• The Prudential Insurance Company of America (CRD #: 680) 

Kurta Law Can Help

If you worked with Manuel Ramos and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.