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Dale Timmerman, Moloney Advisor, Receives $100K Investor Complaint
Dale Timmerman (CRD# 2423919), a financial advisor in Vandalia, Illinois, recently received an investor complaint alleging his conduct resulted in damages. Records provided by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with Moloney Securities, having previously been registered with Hancock Securities Group.
Mr. Timmerman’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of Moloney Securities, he acted negligently and recommended an unsuitable corporate bond investment. The pending complaint alleges damages of $100,000. In a statement included with the complaint’s disclosure, Mr. Timmerman wrote: “I refute the allegations of the claims.”
For reference, FINRA Rule 2111 requires that brokers like Mr. Timmerman recommend only investments and strategies that are in appropriate—or suitable—for their customers’ profiles. To make this determination, they must conduct reasonable diligence into the client’s net worth, risk tolerance, age, investment goals, tax status, income, financial needs, and other factors. Brokers who recommend unsuitable investments may be held liable for damages in the event of losses.
According to the Financial Industry Regulatory Authority, Dale Timmerman holds 29 years of securities industry experience. Based in Vandalia, Illinois, he has been a broker and an investment advisor with Moloney Securities since 2012. His past registrations include Hancock Securities Group (Vandalia, Illinois; 2000-2012) and DR Hancock & Company (Carbondale, Illinois; 1993-2000). 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 Florida, Illinois, Missouri, Ohio, Tennessee, Texas, and Virginia. (Information current as of December 8, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.