Cetera Advisors LLC agreed to pay over $628,000 in restitution to customers who were overcharged in certain mutual fund purchases. According to the Financial Industry Regulatory Authority (FINRA), Cetera Advisors disadvantaged specific retirement plan and charitable organization customers that were eligible to purchase Class A shares of specific mutual funds without a front-end sales charge. Instead, the customers were sold Class A shares with a front-end sales charge or Class B or C shares with back-end sales charges and higher ongoing fees and expenses.
Do You Need a Mutual Fund Investment Dispute Attorney?
Cetera Advisors, with headquarters in Denver, Colorado has approximately 1,788 registered representatives and 961 branch offices. According to the Letter of Acceptance, Waiver and Consent (AWC) submitted to FINRA, Cetera Advisors did not reasonably supervise the application of the sales charge waivers to the eligible mutual fund sales, but relied on its financial advisors to determine the applicability of sales charge waivers. FINRA stated that Cetera Advisors failed to adequately notify and train its financial advisors pertaining to the availability of mutual fund sales charge waivers for eligible customers. Cetera Advisors, without admitting or denying FINRA’s findings, was censured, required to provide a remediation plan to FINRA, and agreed to pay restitution to eligible customers who were overcharged an estimated $628,040.
Colorado has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to misrepresent and mislead investors about investing in Mutual Funds and engage in all kinds of stockbroker misconduct which violates Federal and Colorado securities laws and Financial Industry Regulatory Authority (FINRA) rules as well as the stock brokerage firms policies and procedures.
Experienced Securities Attorneys Handling Claims For Mutual Fund Investors In FINRA Arbitrations Throughout Colorado and Nationwide.
Are you a Colorado investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Colorado stockbroker or investment advisor misrepresent or mislead you about a Mutual Fund investment or make an unsuitable recommendation that you invest in a Mutual Fund or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly rated and nationally recognized FINRA securities arbitration law attorney—an attorney who understands Mutual Fund investments and stockbroker abuses related thereto, like when they are making unsuitable investments Class A, B, C shares of other classes of mutual funds to increase their commissions, missing breakpoints to generate higher commissions, switching of mutual funds that are intended long term investments outside of a mutual fund family to generate more commissions for them.
You will also need an experienced lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated and highly successful lawyer like Robert Wayne Pearce with over 40 years of experience with Mutual Fund investment disputes by practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your investment losses in Mutual Funds and all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of Mutual Fund and securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations of Mutual Funds. Attorney Pearce and his staff represent investors throughout Colorado, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
Se habla español
Free Initial Consultation With An Experienced Mutual Fund Investment Lawyer Serving Colorado Residents In FINRA Arbitration Proceedings
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle Mutual Fund cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in Mutual Fund cases and all kinds of securities law and investment disputes serving Colorado citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.