Ron Smith: $250K Complaint Against Ex-Spartan Advisor

Stamford, Connecticut financial advisor Ron Smith (CRD# 6038062) recently received an investor complaint alleging that his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Sanford C. Bernstein & Company and an investment advisor with AllianceBernstein.

Mr. Smith’s BrokerCheck report discloses two investor complaints. The most recent, filed in February 2024, alleges that as a representative of Spartan Capital Securities, he breached his fiduciary duty, acted negligently, failed in his supervisory responsibilities, recommended unsuitable private placement investments, failed to act in the claimants’ best interest, executed unauthorized trades, misrepresented material facts, and omitted material facts. The pending complaint alleges damages of $250,000.

An earlier investor complaint, filed in 2021, alleged that as a Spartan Capital Securities representative, he engaged in unspecified misconduct. The complaint alleged damages of $42,035 and was closed. “The client was an inherited account, and is a sophisticated and accredited investor,” states a comment included with the disclosure. “He was fully aware of all transactions and actively involved in decision making with regard to his account. He is now seeking market losses after 4 years of which were related to his prior broker.”

According to the Financial Industry Regulatory Authority, Ron Smith holds 10 years of securities industry experience. Based in Stamford, Connecticut, he has been registered as a broker with Sanford C. Bernstein & Company and an investment advisor with AllianceBernstein since 2024. He was previously registered with Spartan Capital Securities in New York, New York from 2013 until 2023. 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 Connecticut. (Information current as of March 8, 2024.)

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