In July 2023, US-based cryptocurrency investment firm and registered investment adviser CoinFund announced that it had closed its $158 million...Read More
Glen Cole: Ex-Moloney Advisor Denies Investor Complaint
Investor complaints against former Manchester, Missouri financial advisor Glen Cole (CRD# 1999588) allege that his investment advice resulted in six-figure losses. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Moloney Securities, though he is no longer registered as a broker.
Mr. Cole’s BrokerCheck report discloses two recent investor complaints against him. The most recent, filed in April 2022, alleges that as a representative of Moloney Securities, he recommended unsuitable investments between September 2012 and February 2021. The pending complaint alleges damages of $700,000.
A second investor complaint, filed in April 2021, alleges that while he was at Moloney Securities, Mr. Cole recommended unsuitable real estate and direct investments. The pending complaint alleges damages of $400,000. In a comment on the disclosure, Mr. Cole states that he denies the allegations.
In February 2021 Moloney Securities fired Mr. Cole, according to a disclosure on his BrokerCheck report. The disclosure states that his termination related to his FINRA disqualification “as defined in section 3(a)(39) of the Securities Exchange Act of 1934.”
According to the Financial Industry Regulatory Authority, Glen Cole holds 29 years of securities industry experience. He is not currently registered as a broker or an investment advisor, though he was last registered as a broker with Moloney Securities in Manchester, Missouri, from 2012 until 2021. His past registrations include First Brokerage America (Herman, Missouri; 2006-2012), Huntleigh Securities Corporation (St. Louis, Missouri; 2003-2004), Summit Brokerage Services (Boca Raton, Florida; 2003), UBS Painewebber (Weehawken, New Jersey; 2000-2003), and Edward Jones (St. Louis, Missouri; 1989-2000). His credentials include the passage of three securities industry qualifying examinations: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He currently holds no state licenses. (Information current as of July 12, 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.