Investment Loss Claims Against Cetera Financial
Cetera Advisor Networks, also known as Cetera Financial Specialists and Cetera Financial Institutions, was founded in 1983 under the name “Financial Network Investment Corporation.” This advisor network prides itself on being on the cutting edge of independent contractor brokerage. Cetera has 60 directors throughout the United States with a main office location in El Segundo, California. Cetera Financial Group is the holding company of four independent channel broker-dealers, including Cetera Advisor Networks, with approximately 6,500 financial advisors and more than 600 financial institutions.
Cetera advertises that they offer the following products and services:
- Retirement plans
- CMOs, treasuries, corporate, and other types of bonds
- Annuities: fixed and variable
- Unit investment trusts
- Stock options, and more
Past Regulatory Events
Cetera Advisor Networks LLC is a registered brokerage firm and investment adviser firm (registered with the SEC as well as 53 U.S. states and territories). According to its FINRA BrokerCheck® report, the firm has a total of 7 regulatory events, one civil event, and 15 arbitrations in its history.
The most recent regulatory event was initiated in December 2012. Cetera Advisor Networks was accused of, for more approximately 2.5 years, failing to promptly file form BR amendments. Sanctions ordered: monetary fine of $40,000.
In July 2006, an arbitration aimed to settle allegations that Cetera violated NASD Rules 2110 and 2830K1. The resolution: Cetera filed an Acceptance, Waiver and Consent (AWC) form. Sanctions ordered: a monetary fine of more than $3.4 million.
Recover Losses Caused by Cetera Advisor Networks
If you entrusted your investments with a Cetera advisor/broker and you lost a substantial amount of money, we invite you to contact our firm. Meyer Wilson is an investment fraud law firm that aims to help people recover losses caused by investment misconduct. We handle investment cases in state and federal courts, as well as arbitrations (FINRA, AAA, or private).