Cambridge Investment Research Advisors, Inc. financial advisor Ralph W. Savoie of Mandeville, La., has been banned from the securities industry after failing to provide documents and information relating to a FINRA investigation.
According to the Letter of Acceptance, Waiver and Consent (“AWC”) Savoie entered into with FINRA, there were allegations that Savoie “misappropriated more than $665,000 from at least one firm customer.” During the course of the FINRA investigation into these allegations, Savoie refused to provide documents and information requested by FINRA. Instead, Savoie chose to consent to a permanent ban from associating with any FINRA member firm “in any and all capacities,” according to the AWC.
Savoie worked for several different FINRA member firms since 1970, but he was most recently a registered representative with Cambridge Investment Research Advisors, Inc. from July 2013 through August 2015. He also worked for ING Financial Partners, Inc. of Baton Rouge from March 2007 until July 2013, according to his FINRA BrokerCheck report.
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