Los Angeles, CA – November 22, 2025 – Chetan Patil of Patil Law, P.C., a securities fraud attorney, is investigating Ronald Stillman Cole (CRD# 1434325), a financial advisor registered with Emerson Equity LLC. According to FINRA records, Cole faces a pending customer complaint filed in October 2025 alleging breach of fiduciary duty, misrepresentation, negligence, and violations of securities laws in connection with a real estate security investment, with alleged damages between $100,000 and $500,000.
A FINRA arbitration claim was filed on October 9, 2025 (Case No. 25-02151) alleging breach of written contract, breach of fiduciary duty, negligence and gross negligence, misrepresentations and omissions, violation of FINRA rules, violation of the Massachusetts Uniform Securities Act Part 1, Chapter 110A, Section 101, and violation of Regulation Best Interest. The complaint alleges the conduct occurred while Cole was employed by Emerson Equity LLC. The product type involved is listed as a “Real Estate Security.”
The claimants request general and compensatory damages between $100,000 and $500,000, under-performance damages, attorneys’ fees, cost of proceedings, punitive damages, interest at the legal rate on all sums recovered, and such other relief as the panel deems just and appropriate. The complaint remains pending.
Cole operates through “Cole 1031 Solutions,” a marketing vehicle through which he conducts securities-related business with Emerson Equity LLC, assisting clients with the complexities of 1031 exchanges and providing access to Delaware Statutory Trusts (DSTs). Section 1031 exchanges allow real estate investors to defer capital gains taxes by exchanging one investment property for another. DSTs are securities that allow multiple investors to hold fractional ownership interests in institutional-grade real estate. While these investments can offer tax benefits, they also carry significant risks including illiquidity, lack of control, and potential for loss of principal.
FINRA Rule 2111 requires that brokers have a reasonable basis to believe that a recommended investment is suitable for the customer based on the customer’s investment profile. Additionally, Regulation Best Interest (Reg BI), adopted by the Securities and Exchange Commission in 2019, requires broker-dealers and their associated persons to act in the best interest of retail customers when making investment recommendations. Under Reg BI’s care obligation, financial advisors must exercise reasonable diligence, care, and skill and have a reasonable basis to believe that the recommendation is in the best interest of the particular retail customer.
FINRA Rule 2020 prohibits brokers from effecting any transaction in, or inducing the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance. This includes making misrepresentations or omissions of material facts about investments recommended to clients.
According to FINRA records, Ronald Stillman Cole has 39 years of experience in the securities industry, with his first registration dating back to 1986. Currently based in San Mateo, California, he has been registered with Emerson Equity LLC since August 2024. Cole has an extensive employment history, having been registered with more than 20 different broker-dealers throughout his career, including major Wall Street firms such as Kidder Peabody, A.G. Edwards, Merrill Lynch, Bear Stearns, Salomon Smith Barney, and CIBC World Markets, as well as numerous smaller firms.
Cole has passed five securities industry qualifying examinations: the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), the Uniform Combined State Law Examination (Series 66), the Uniform Investment Adviser Law Examination (Series 65), and the Uniform Securities Agent State Law Examination (Series 63). He is licensed in 10 states: Connecticut, Florida, Kentucky, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island.
Cole’s frequent movement between firms raises questions that investors should consider when evaluating whether to work with a financial advisor. While changing firms is not unusual in the securities industry, a pattern of numerous short-term engagements may warrant additional scrutiny.
Patil Law, P.C. is currently investigating claims on behalf of investors who suffered losses related to alleged unsuitable real estate securities recommendations, misrepresentation, or violations of Regulation Best Interest by Ronald Cole. Our firm has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases.
We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you. We represent individual investors and families nationwide.
If you invested with Ronald Cole at Emerson Equity LLC or any of his previous firms and suffered losses related to real estate securities, 1031 exchanges, Delaware Statutory Trusts (DSTs), or other investments, you may be entitled to compensation. However, time is limited—FINRA arbitration claims generally must be filed within six years of the incident.
Contact Patil Law, P.C. today at 800-950-6553 or email info@patillaw.com for a free case evaluation. Don’t let time run out on your right to recover your losses.
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending and unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
