Ron Filoramo: Barred Morgan Stanley Advisor Faces 6-Figure Complaints

Recent investor complaints against Fort Lauderdale financial advisor Ron Filoramo (CRD# 3270398) allege that his conduct resulted in combined damages of more than $800,000. Records maintained by the Financial Industry Regulatory Authority show that he was registered with Morgan Stanley until May 2023, while an industry publication states that he was barred by FINRA in September.

His former broker-dealer firm terminated Mr. Filoramo in May 2023, according to his BrokerCheck report. Morgan Stanley fired him in connection with allegations that he “fraudulently induced clients to transfer funds to purported investments that were never made,” a disclosure states. On September 19, 2020, AdvisorHub reported that he accepted a FINRA bar “rather than cooperate” with an investigation into fraud allegations. In a statement to the publication, AdvisorHub said that it referred to law enforcement the matter underlying his termination, adding: “Morgan Stanley is strongly committed to the protection of client assets, and to act quickly when allegations of this nature are discovered.”

Mr. Filoramo’s BrokerCheck report discloses four investor complaints. The most recent, filed in April 2023, alleges that as a Morgan Stanley representative, he induced the customer to transfer her funds “to a purported outside investment that cannot be located.” The pending complaint alleges damages of $62,000.

A second investor complaint, also filed in April 2023, similarly alleges that he “fraudulently” induced the customer to transfer funds into “outside investments that were never made.” The pending complaint, which concerns conduct that took place in 2021, alleges damages of $172,133.75.

A third investor complaint filed in April 2023 also alleges that as a Morgan Stanley advisor, he “fraudulently” induced the customer to make funds transfers for investments “that were never made.” The pending complaint, which concerns conduct between 2016 and 2018, alleges damages of $290,000.

A fourth investor complaint, filed in March 2023, details allegations of a fraudulent inducement to transfer funds to purported outside investments between 2014 and 2019 “that were never made.” The pending complaint alleges damages of $335,850.

According to the Financial Industry Regulatory Authority, Ron Filoramo holds 23 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been a broker and an investment advisor with Morgan Stanley since 2011. His past registrations include Wells Fargo Advisors (Hallandale, Florida; 2006-2011), UBS Financial Services (Boca Raton, Florida; 2002-2006), Ladenburg Capital Management (Bethpage, New York; 2002), and Ladenburg Thalmann & Company (New York, New York; 1999-2002). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, California, Florida, Georgia, Indiana, Maryland, Massachusetts, Mississippi, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Carolina, and Texas. (Information current as of September 21, 2023.)

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