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Read MoreEdward Balmes: Did Moloney Advisor Recommend Unsuitable Bonds?
Recent investor complaints against Chesterfield, Missouri financial advisor Edward Balmes (CRD# 2110152) allege negligence and suitability violations. Financial Industry Regulatory Authority records show that he is a broker with Moloney Securities and an investment advisor with Moloney Securities Asset Management.
Mr. Balmes’ BrokerCheck report discloses three investor complaints. The most recent, filed in November 2022, alleges that as a representative of Moloney Securities, he recommended unsuitable corporate bond investments and acted negligently. The pending complaint alleges damages of $99,000.
An earlier investor complaint, filed in 2020, alleged that as a representative of Moloney Securities, he recommended unsuitable direct investments between 2010 and 2020 that suffered declines. The complaint reached a settlement of $77,500.
A third investor complaint, also filed in 2020, alleged that he recommended an unsuitable real estate investment while at Moloney Securities. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $1,750.
According to the Financial Industry Regulatory Authority, Edward Balmes holds 32 years of securities industry experience. Based in Chesterfield, Missouri, he has been a broker with Moloney Securities since 2016 and an investment advisor with Moloney Securities Asset Management since 2022. His past registrations include Moloney Securities (Manchester, Missouri; 2009-2016), RT Jones Capital Equities (St. Louis, Missouri; 1997-2008), and NYLife Securities (New York, New York; 1990-1992). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Florida, Illinois, Indiana, Kansas, Missouri, Oklahoma, and Texas. (Information current as of December 15, 2022.)
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