National investment loss lawyers KlaymanToskes is investigating suspended broker Ron Botello a/k/a Ronald Ray Botello (CRD# 4809045) formerly of Osaic Wealth.
According to FINRA BrokerCheck, Ron Botello, a former registered representative of Osaic Wealth, has been suspended by the Financial Industry Regulatory Authority (“FINRA”). Botello was suspended after findings that he borrowed a total of $173,000 from two of his customers, who were senior retail investors, without providing notice to or obtaining approval from his member firm.
Investors that suffered losses with broker Ron Botello are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Former Osaic Broker Ron Botello Suspended by FINRA
Financial advisor Ron Botello, formerly of Osaic Wealth, has been suspended by FINRA in connection with findings that in December 2024, while associated with Osaic Wealth, Botello borrowed a total of $173,000 from two of his customers without obtaining approval from the firm. FINRA found that Botello violated FINRA Rules 3240 and 2010. For these violations, Botello has been suspended for three months and fined $5,000.
In January 2025, Osaic Wealth Inc. terminated Botello due to findings that he engaged in personal transactions with clients without prior approval from the broker dealer. FINRA’s investigation originated from FINRA’s review of the amended Form U5 filed by Osaic Wealth on March 14, 2025.
Botello allegedly borrowed $128,000 from one retail customer and $45,000 from the other retail customer. Botello used the borrowed funds to make a payment in connection with a personal investment. Botello had a personal friendship with each customer, but neither was a member of his immediate family. The loans were undocumented and did not include any interest payments. In June and July 2025, Botello repaid both loans in full. Botello’s loans from his customers were not permitted under Osaic Wealth’s WSPs, and Botello did not provide prior notice to, or obtain approval from, Osaic Wealth for the loans. Therefore, Botello violated FINRA Rules 3240 and 2010.
Investment Losses with Broker Ron Botello?
Contact KlaymanToskesSigns Investors Should Look Out For About Their Brokerage Accounts
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
- You have substantial losses in your investment accounts
- You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
- Your broker misrepresented investment opportunities, or failed to disclose details about investments
- You notice unauthorized transactions in your investment accounts
- Your broker is not returning your calls or emails
- You filed a complaint with your brokerage firm that has not been resolved
- You see a mistake on your statement, or receive a fraudulent statement
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Ron Botello, or have concerns regarding your investment portfolio at Osaic Wealth, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
