Our firm is investigating Equitable Advisors, LLC financial advisor and stockbroker Ryan Bartholomew Lacedonia (CRD# 5658696) of Tampa, Florida for potential investment-related misconduct arising from customer complaints alleging misleading investment information and losses in municipal bond funds and a managed money account.
Financial Advisor’s Career History
Ryan Bartholomew Lacedonia is currently registered with FINRA as both a general securities representative and an investment adviser representative with Equitable Advisors, LLC (CRD# 6627). He has been associated with Equitable Advisors since April 2022 and works out of a branch office in Tampa, Florida, while holding registrations in numerous U.S. states and territories.
Mr. Lacedonia has spent his entire career in the securities industry. Before joining Equitable Advisors, he was dually registered with TIAA-CREF Individual & Institutional Services, LLC and Advice and Planning Services (CRD# 20472) in Tampa, Florida from approximately February 2015 through April 2022, where he served as a wealth management advisor and registered representative.
His earlier experience includes working with ETRADE Securities LLC and ETRADE Capital Management, LLC (Tampa, Florida and Arlington, Virginia), as well as prior registrations with GAMCO Asset Management Inc., Gabelli & Company, Inc., Cohen & Steers Securities, LLC in New York, and an early stint with AXA Advisors, LLC in Miami, Florida dating back to 2009. In addition to his brokerage and advisory roles, Lacedonia has reported an outside business activity under the trade name PCG/Private Client Group, R.B Lace LLC in Tampa, where he is listed as owner.
Ryan B. Lacedonia Fraud Allegations and Investor Complaints Explained
According to his FINRA BrokerCheck report, Ryan Bartholomew Lacedonia has two customer dispute disclosures on his record. The disputes center on allegations that he provided misleading information to customers about the purchase of municipal bond funds and about the type of account and products for which a client qualified, resulting in claimed losses of tens of thousands of dollars. While one matter was settled by his former firm, another was closed with no action, and there has been no formal finding by FINRA that Lacedonia violated any rule in connection with these allegations.
2022 Municipal Bond Fund Misrepresentation Complaint – Settled
In July 2022, a customer lodged a written complaint against Lacedonia’s former firm, TIAA-CREF Individual & Institutional Services, LLC. The client alleged that he was provided misleading information in 2021 concerning the purchase of two municipal bond funds and requested a refund of his losses, claiming damages of approximately $30,000.
The firm reported that the complaint was resolved on August 3, 2022, through a monetary settlement of $22,637.47 paid to the customer. BrokerCheck indicates that Lacedonia did not personally contribute to the settlement. The product type in the disclosure is listed as “No Product,” but the narrative makes clear the dispute involved municipal bond funds and alleged misstatements or omissions about those investments.
2022 Managed Money Account Complaint – Closed With No Action
In October 2022, another written complaint was filed with TIAA-CREF Individual & Institutional Services, LLC involving a former client who claimed he was misled by Lacedonia into believing that he qualified for the same employer-sponsored plan products his wife held. According to the disclosure, the customer alleged that instead of enrolling him in similar plan products, the representative invested his assets in a non-qualified managed money account.
The client asserted that the managed money account had declined by approximately $35,000 and requested that all losses from inception be reimbursed and all fees refunded. The firm categorized the product type as “Other: Managed Money.” On November 9, 2022, the firm closed the complaint with “No Action,” indicating that no settlement or payment was made and no finding of wrongdoing was entered against Lacedonia in connection with this matter.
Summary of Customer Dispute Disclosures
- Alleged misleading information in 2021 regarding two municipal bond funds; written customer complaint received July 6, 2022; claimed damages of $30,000; firm settled on August 3, 2022, for $22,637.47 with no individual contribution by Lacedonia.
- Alleged misrepresentation about qualification for employer-sponsored plan products and placement into a non-qualified managed money account; written complaint received October 26, 2022; claimed damages of approximately $35,000 and refund of all fees; firm closed the matter on November 9, 2022, with no action and no payment to the customer.
As with all customer disputes reported in BrokerCheck, these disclosures reflect allegations only. An investor complaint, settlement, or closed-no-action entry does not by itself prove that the broker engaged in fraud, misrepresentation, or any violation of FINRA rules.
In conclusion, the allegations involving Ryan Bartholomew Lacedonia underscore the types of issues that can arise when investors claim they were misled about the risks, features, or suitability of municipal bond funds or managed accounts, or about the nature of the retirement-plan products they were qualified to purchase.
To obtain a copy of Ryan Bartholomew Lacedonia’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) requires brokers and their firms to have a reasonable basis to believe that any recommended transaction or investment strategy is suitable for the customer based on that customer’s investment profile, including age, financial situation, objectives, risk tolerance, and liquidity needs. In the complaints involving Lacedonia, customers alleged that they received misleading information about municipal bond funds and were placed into a non-qualified managed money account instead of employer-sponsored plan products, which raises suitability questions about whether the investments and account structure were appropriate for their needs and expectations under Rule 2111.
FINRA Rule 2210 (Communications with the Public) requires that broker-dealer communications be fair and balanced and prohibits false, exaggerated, unwarranted, or misleading statements. If a customer was led to believe that certain municipal bond funds or employer-sponsored plan products carried particular features, guarantees, or eligibility criteria that did not actually apply, regulators and arbitrators may view such statements as potentially misleading under Rule 2210, especially where account selection and product choice were driven by those communications.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is a broad “catch-all” provision that requires members, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade. Even where a firm or advisor has not been formally charged, customer complaints alleging misrepresentation of investment products, mishandling of account types, or failure to correct misunderstandings can be evaluated under Rule 2010 to determine whether the conduct fell below the ethical and professional standards expected of FINRA-regulated professionals.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
