Haselkorn & Thibaut Launches Investigation into Austin, TX Financial Advisor Ronald Dewayne Smith Jr. (CRD 2413775) — Smith Wealth Advisors & Ameriprise Financial Services, Inc.
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Are you an investor concerned about your accounts managed by Ronald Dewayne Smith Jr. in Austin, TX? Haselkorn & Thibaut, a respected national securities fraud law firm, has opened an investigation into alleged misconduct related to Ronald Dewayne Smith Jr. (CRD 2413775) and his former association with Smith Wealth Advisors, LLC and Ameriprise Financial Services, Inc. With over 50 years of experience, a 98% success rate, and millions recovered for investors, our firm is dedicated to protecting your rights. No recovery, no fee.
Who Is Ronald Dewayne Smith Jr.? Background for Investors
Ronald Dewayne Smith Jr. built his career as a registered investment adviser and broker, based primarily in Austin, Texas. His major industry affiliations include:
- Smith Wealth Advisors, LLC — Principal/Advisor (most recent)
- Ameriprise Financial Services, Inc. — Representative (Feb. 1994 – Apr. 2015)
Additionally, Smith has held other business roles, such as partner in Vista Park Living, a real estate development firm. However, his professional standing has changed drastically in recent times due to serious regulatory action.
Regulatory Revocation and Serious Allegations in 2025
In October 2025, the Texas State Securities Board (TSSB) revoked both Ronald Dewayne Smith Jr.’s and Smith Wealth Advisors’ registrations as investment advisers. This action stemmed from a routine TSSB inspection earlier in 2025 that uncovered the misappropriation of funds from at least ten client accounts.
A subsequent hearing notice was filed, but Smith and his firm did not appear. As a result, a default order was issued, revoking the registrations and mandating $1.4 million in refunds to affected clients. The order also directed both parties to cease and desist all fraudulent business practices.
Summary Table — Key Information: Ronald Dewayne Smith Jr.
| Field | Value |
|---|---|
| Advisor Name | Ronald Dewayne Smith Jr. |
| CRD Number | 2413775 |
| Current Status | Registration Revoked — Not currently licensed |
| Broker-Dealer Affiliations | Smith Wealth Advisors, LLC; Ameriprise Financial Services, Inc. (past) |
| Location | Austin, Texas |
| Regulatory Actions | Revoked by Texas State Securities Board (2025) |
| Other Business Activities | Partner, Vista Park Living (real estate) |
| Cease & Desist/Restitution? | $1.4 million refund ordered; cease fraudulent practices |
Red Flags and Investor Concerns
There are several red flags investors should note when reviewing Ronald Dewayne Smith Jr.’s professional record:
- Misappropriation of Client Funds: Texas regulators found funds missing from at least ten different client accounts — a grave breach of fiduciary duty.
- Failure to Respond or Appear: Smith and his firm did not attend the regulatory hearing, leading to a default order and further questions about transparency.
- Revocation of Licenses: Both Smith and Smith Wealth Advisors are no longer permitted to act as investment advisers in Texas, signaling serious trust and suitability concerns.
- Substantial Restitution Order: The order to refund $1.4 million underscores the scale of potential investor harm.
Complaint History and Regulatory Records — A Closer Look
Here’s a detailed list of publicly known complaints and actions against Ronald Dewayne Smith Jr.:
- 2017 FINRA Arbitration (Ameriprise Financial Services, Inc.)
- Case Filed: July 2017
- Nature: Investor alleges unsuitable recommendations involving non-traded REITs (CNL Lifestyle Properties, 2008–2009).
- Resolution: Settled in November 2018 for $50,000.
- 2025 Texas State Securities Board Action
- Discovery: Misappropriated funds during TSSB inspection (February 2025)
- Action: Notice of hearing; non-appearance by Smith and the firm
- Result: Revocation of registration and $1.4 million refund order, cease and desist from fraudulent conduct
No recent FINRA, SEC, or civil litigation actions are listed against Ronald Dewayne Smith Jr. as of June 2024 according to FINRA BrokerCheck and SEC public records, apart from the above matters. However, the regulatory action by the Texas State Securities Board in 2025 is significant and noteworthy for investors.
Should Investors Be Concerned?
The facts outlined — regulatory revocations, misappropriation findings, substantial restitution orders, and a prior customer settlement — present legitimate reasons for investors managed by Ronald Dewayne Smith Jr. or Smith Wealth Advisors to carefully review their accounts. Even if you have not yet discovered losses, it can be wise to seek a no-cost, confidential review with an experienced law firm.
If you believe you may have experienced losses, questionable investment advice, or mishandling of funds by Ronald Dewayne Smith Jr., Smith Wealth Advisors, or Ameriprise Financial Services, Inc., you may have options to recover your damages.
What Should I Do Next?
- Review your statements and investments for unexpected changes or unexplained losses.
- Gather documentation of your transactions, communications, and relevant account records.
- Contact Haselkorn & Thibaut for a free, private case evaluation today — 1-888-994-8066
Remember: There are strict time limits to recover damages. The sooner you act, the more options you may have.
Why Choose Haselkorn & Thibaut?
Haselkorn & Thibaut is a leading national investment fraud law firm:
• 50+ years collective experience
• 98% success rate and millions recovered for clients
• Zero recovery, zero fee promise
Let our seasoned team provide the guidance and advocacy you deserve. Dial 1-888-994-8066 for your free, no-risk consultation now. Protect your rights and peace of mind as an investor.
