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Cetera Advisor Networks

Investors depend on financial institutions to provide sound advice, protect their assets, and prioritize their financial well-being. When powerful financial groups, such as Cetera, fall short, they should be held accountable for their actions.

At Meyer Wilson, we have over 75 years of combined experience protecting investor rights. Our investment fraud lawyers have recovered over $350 million for thousands of clients. We will fight for justice against those responsible for misconduct, regardless of the financial institution's size or influence. Call us today to discuss the details of your case.

Cetera Financial Networks Investment Loss Claims

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. It 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 a wide range of products and services, including:

  • Retirement plans
  • Wealth management
  • General financial planning
  • CMOs, treasuries, corporate, and other types of bonds
  • Annuities (fixed and variable)
  • Unit investment trusts
  • Stock options

Is Cetera a Good Investment Company?

Whether or not Cetera Financial Group is a good investment company depends on multiple factors, including your financial goals and risk tolerance, as well as the experience of the Cetera advisor with whom you are working. Consider whether their investment strategies align with your objectives, and be mindful of their fee structures, as fees can significantly impact your returns over time.

It's also crucial to be aware of the potential downsides. Cetera has faced its share of investor complaints and lawsuits over the years. These issues may provide you with insight into the company's stability and customer satisfaction. Additionally, check their regulatory history and any disciplinary actions against them to understand their reputation better.

Consult a financial advisor or an investment fraud lawyer to learn more about the brokerage firm's background. Conducting due diligence on specific investment products will help you make an informed decision.

Cetera Financial Problems and Investor Complaints

Cetera Financial Group has faced allegations of misconduct and failure to act in the best interest of its clients. These issues raise questions about the company's commitment to ethical conduct and client protection.

Numerous complaints have revolved around high fees and commissions, which can erode investors' returns over time. Cetera has also faced regulatory scrutiny related to inadequate supervision of its financial advisors, potentially leading to unsuitable investment recommendations and actions.

Based on a review of publicly available information, common complaints against Cetera include allegations of :

  • Unsuitable investment recommendations
  • Excessive fees
  • Problems related to the handling of client accounts
  • Failure to identify and apply sales charge discounts for some unit investment trust (UIT) purchases.
  • Failure to correctly register investment advisor representatives (IARs)
  • Failure to disclose a conflict of interest
  • Lack of supervision

These concerns underscore the importance of due diligence when considering Cetera or any financial institution for investment services. Before you entrust an investment company with your financial future, consider its performance history.

A Closer Look at Cetera Advisor Networks' Regulatory History

Cetera Advisor Networks LLC is a registered brokerage and investment advisor firm (registered with the SEC and 53 U.S. states and territories). According to the Financial Industry Regulatory Authority (FINRA) BrokerCheck® report, the firm has 18 regulatory events, two civil events, and at least 15 arbitrations.

Investment Fraud

The Securities and Exchange Commission (SEC) filed an investment fraud lawsuit against a former Cetera financial advisor. The defendant faces charges of convincing an elderly client to give her power of attorney and then move $2.4 million into a bank account under her control.

Failure to Disclose Conflict of Interests

In another recent case, dating from 2022, two of the main subsidiaries of Cetera Financial Group (Cetera Advisor Networks and Cetera Advisors) settled the Securities and Exchange Commission's fraud charges for $8.6 million.

The wealth manager was charged with defrauding clients by not disclosing conflicts of interest. The case refers to Cetera's failure to disclose its compensation from revenue sharing, 12b-1 distribution and marketing fees, markups, and administrative costs.


In 2018, the firm was fined $700,000 and ordered to pay $691,755.27 (plus interest) in restitution to customers after FINRA alleged Cetera failed to reasonably address a registered representative's misconduct.

Failure to Promptly File Form BR Amendments

Another regulatory event was initiated in December 2012. Cetera Advisor Networks was accused of failing to file form BR amendments promptly for more than two and a half years.

Sanctions ordered: a monetary fine of $40,000.

Violation of NASD Rules 2110 and 2830K1

In July 2006, an arbitration aimed to settle allegations that Cetera violated NASD Rules 2110 and 2830K1. The resolution is that 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 With the Help of an Investment Fraud Lawyer

If you entrusted your investments with a Cetera advisor and lost substantial money, seek legal guidance. Meyer Wilson is an investment fraud law firm that aims to help people recover losses caused by investment misconduct. We handle investment cases in arbitrations (FINRA, AAA, or private) and state and federal courts if needed.

Our investment fraud lawyers will review your options for financial recovery and help you find the best path for your case. Contact us today to schedule a free consultation.

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