San Diego financial advisor Aubrey Morrow (CRD# 836500) allegedly recommended unsuitable investments, according to recent investor complaints. Financial Industry Regulatory...Read More
Manuel Ramos: $100K Complaint Against Centaurus Advisor
Downey, California financial advisor Manuel Ramos (CRD# 1956224) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Centaurus Financial, doing business as Ramos Consulting and Wealth Management.
Mr. Ramos’s BrokerCheck report discloses several investor complaints. The most recent, filed in July 2023, alleges that as a Centaurus Financial Representative, he “recommended illiquid investments with declining values and high fees.” The pending complaint alleges damages of $100,000.
In a statement included with the pending complaint’s disclosure, Mr. Ramos defended himself against the allegations, which he described as meritless. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after his review of all material documentation related to the investment,” he wrote. “The customer confirmed in writing that they not only received the requisite investment documentation/disclosures, but that he fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”
An earlier investor complaint, file din 2021, alleged that he recommended “high-risk, illiquid investments” in oil and gas products and real estate securities. The complaint, which Mr. Ramos made a statement “vehemently” denying, reached a settlement of $10,000.
According to the Financial Industry Regulatory Authority, Manuel Ramos holds 33 years of securities industry experience. Based in Downey, California, he has been a broker and an investment advisor with Centaurus Financial since 2011, doing business as Ramos Consulting and Wealth Management. His past registrations include Sammons Securities Company (Downey, California; 2006-2011), Tower Square Securities (Downey, California; 1996-2006), Advantage Capital Corporation (Atlanta, Georgia; 1994-1996), Pruco Securities Corporation (Newark, New Jersey; 1989-1994), and the Prudential Life Insurance Company (Newark, New Jersey; 1989-1993). His credentials include the passage of four 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; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 28 state licenses. (Information current as of August 5, 2023.)
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