The O.N. Equity Sales Co. (ONESCO) Investment Attorney
We represent clients in investment related disputes against their financial advisors and brokerage firms, such as O.N. Equity Sales Co. (ONESCO). Typical claims brought on behalf of clients include misconduct related to suitability, Ponzi Schemes, and misrepresentations concerning various investment products. The attorneys at our firm can analyze your brokerage account statements to determine the extent of the client’s financial losses, and understand the legal issues involved, and provide a consultation concerning remedies available.
The O.N. Equity Sales Company (ONESCO) is a wholly owned broker/dealer subsidiary of The Ohio National Life Insurance Company. Founded in 1968 and headquartered in Cincinnati, Ohio, ONESCO claims to provide financial professionals and investors with access to quality investment products and services. As an independent brokerage firm, ONESCO advertises that advisors have the freedom and flexibility to choose the business model that best serves the needs of their clients.
ONESCO is affiliated with, under common control, or otherwise performs business under the company names O.N. Investment Management Company (ONIMCO) and O.N. Insurance Agency (ONINSA)
ONESCO – By the Numbers:
- CRD# 2936
- SEC# 8-14161
- 5 Regulatory Events
- 2 Customer Complaints
- Total Revenues: $54.3 million – 2012
- Total Account Assets: $38.8 billion – 2013
- Number of Retail Offices: 477
- Number of Investment Accounts: 22,078 - 2012
- Representatives: 924 - 2012
FINRA v. Bruce Supanik, AWC No. 20130363677 – The Financial Industry Regulatory Authority (FINRA) permanently barred Bruce Supanik in all capacities, for failing to appear and provide on-the-record testimony to FINRA regarding the circumstances of his termination by The O.N. Equity Sales Company. According to FINRA, the Form U-5 filed on March 21, 2013, by ONESCO stated that Supanik’s employment was terminated after he placed liquidating transactions in a customer’s account after the customer’s death and that Supanik failed to give notice of the death to ONESCO. According to FINRA, Supanik transferred the balance of the customer’s account at ONESCO totaling $506,450.32 to a joint checking account he shared with the customer and then withdrew the balance from the joint checking account and deposited it into his personal bank account.
FINRA v. Kenneth Patrick Petticolas, AWC No. 2011027041101 – Kenneth Patrick Petticolas, a former broker with The O.N. Equity Sales Company, consented to findings that he participated in a private securities transaction sale of a life settlement contract to an investor for approximately $455,925, which was not conducted through his firm. FINRA found that Mr. Petticolas received approximately $50,151.75 from the entity as compensation for the sale of the life settlement contract. FINRA alleged that Mr. Petticolas failed to respond in a timely manner to FINRA’s requests for documents and information regarding the sale and was suspended from association with any FINRA member in any capacity for one year.
Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.