Ron Chronister: FINRA Suspends LPL Advisor

Wichita, Kansas financial advisor Ron Chronister (CRD# 3255653) was recently sanctioned and suspended in connection with allegations of unauthorized trading. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial.

A Letter of Acceptance, Waiver, and Consent (No. 2022075350201) describes FINRA’s disciplinary action against Mr. Chronister. Filed in June 2024, it states that in January 2021, he executed a trade in a customer’s account in order to fund an upcoming required minimum distribution for the customer. The customer, according to FINRA, had passed away a week earlier, unbeknownst to Mr. Chronister. He allegedly learned of the customer’s death later on the day of the trade, but in February 2021 nonetheless “falsely stated in an email to LPL that he had spoken with the customer in early January 2021 about the trade.”

FINRA found that this conduct violated FINRA Rule 2010, which requires brokers to “observe high standards of commercial honor and just and equitable principles of trade,” effectively prohibiting unauthorized transactions. It issued him a fine of $7,500 and a 45-day suspension from associating with any FINRA member in all capacities.

LPL Financial’s website includes a profile of Mr. Chronister that describes his background and experience. “Largely working with individuals, small business owners, he specializes in retirement planning strategies, investment management and estate planning,” it explains. “As an independent advisor, he is deeply committed to helping people pursue their financial goals.”

According to the Financial Industry Regulatory Authority, Ron Chronister holds 24 years of securities industry experience. Based in Wichita, Kansas, he has been registered as a broker and an investment advisor with LPL Financial since 2003. He was previously registered with New England Securities from 1999 until 2003. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; 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 Arizona, Arkansas, Colorado, Florida, Idaho, Kansas, Mississippi, Missouri, Nebraska, New York, North Carolina, Ohio, Oklahoma, Texas, Washington, and Wisconsin. (Information current as of June 25, 2024.)

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