Ron Itin: $1.6mm Award Against E1 Advisor

Jersey City financial advisor Ron Itin (CRD# 2344151) recently received an investor complaint that resolved with an award to the claimant of more than $1 million. Financial Industry Regulatory Authority records show that he is currently registered as a broker with E1 Asset Management.

Mr. Itin’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in 2023, alleges unspecified misconduct while he was a representative of E1 Asset Management. The pending complaint alleges unspecified damages.

An earlier complaint, filed in 2023, alleged that as a representative of E1 Asset Management, he committed common law fraud, breached his fiduciary duty, failed to supervise, acted negligently, and engaged in unjust enrichment. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of more than $1.6 million.

A third disclosure on his BrokerCheck report concerns a FINRA sanction against him. Filed in 2022, it alleged that “he and his member firm failed to reasonably supervise the fairness of mark-ups the firm charged to retail customers through one registered representative.” As a result of these failures, FINRA’s findings state, the firm’s customers paid more than $37,000 in excessive fees. FINRA ordered Mr. Itin to pay a fine of $5,000 and suspended him from registering in any principal capacity for one month.

According to the Financial Industry Regulatory Authority, Ron Itin holds 31 years of securities industry experience. Based in Jersey City, New Jersey, he has been registered as a broker with E1 Asset Management since 1999. His past registrations include Clearing Services of America, IAR Securities Corporation, VTR Capital, and J. Gregory & Company. His credentials include the passage of eight securities industry qualifying exams: the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the Financial and Operations Principal Examination, or Series 27; the Compliance Officer Examination, or Series 14; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE: the Operations Professional Examination, or Series 99TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Illinois, and the US Virgin Islands. (Information current as of June 1, 2024.)

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