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Robert Vance: $100K Bond Complaint Against Sonora Advisor
Moloney Securities financial advisor Robert Vance (CRD# 1887560) allegedly recommended unsuitable investments, according to a recent investor complaint against him. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Sonora, California.
Mr. Vance’s BrokerCheck report discloses three investor complaints. The most recent, filed in June 2022, alleges that as a representative of Moloney Securities, he engaged in negligence and recommended unsuitable corporate bond investments between 2016 and 2018. The pending complaint alleges unspecified damages.
An earlier investor complaint, filed in May 2022, similar alleges that as a Moloney Securities representative, he acted negligently and made unsuitable recommendations to invest in corporate bonds. The pending complaint alleges damages of $100,000.
In statements on each of the pending complaints against him, Mr. Vance wrote: “I refute the allegations of the claim.”
A third investor complaint, filed in March 2022, alleged that he recommended an investment that suffered performance issues while at Moloney Securities. The complaint alleged damages of $40,000 and was denied by the firm.
According to the Financial Industry Regulatory Authority, Robert Vance holds 33 years of securities industry experience. Based in Sonora, California, he has been a broker and an investment advisor with Moloney Securities since 2016 and 2017, respectively. His past registrations include Vance Capital Management (Sonora, California; 2007-2018), Ridgeway & Conger (New Woodstock, New York; 2011-2016), BFT Financial Group (Sonora, California; 2003-2011), World Choice Securities (Columbus, Ohio; 2001-2003), Macken Securities (Roseville, California; 2000-2001), SunAmerica Securities (Phoenix, Arizona; 1998-2000), American Express Financial Advisors (Minneapolis, Minnesota; 1990-1998) IDS Life Insurance Company (Minneapolis, Minnesota; 1990-1998), and Dreamwest Securities Corporation (1988-1989). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Municipal Fund Securities Principal Examination, or Series 51; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alaska, Arizona, California, Colorado, Georgia, Idaho, Nevada, Oregon, Pennsylvania, South Carolina, Texas, and Washington. (Information current as of September 3, 2022.)
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