Jonathan Robin Prestridge (CRD# 4554166) is a stockbroker and investment adviser representative currently registered with Cetera Wealth Services, LLC and Cetera Investment Advisers LLC in Baton Rouge, Louisiana, and our firm is investigating allegations of investment-related misconduct involving a customer complaint that alleged misrepresentation in connection with a third-party managed account program.
Jonathan Robin Prestridge’s Financial Advisor and Stockbroker Career History
According to FINRA BrokerCheck, Jonathan Robin Prestridge has worked in the securities industry since 2002. He is currently registered as a General Securities Representative with Cetera Wealth Services, LLC (CRD# 13572) and as an Investment Adviser Representative with Cetera Investment Advisers LLC (CRD# 105644), operating from a branch office located at 9026 Jefferson Highway, Suite 103, Baton Rouge, Louisiana 70809.
Prestridge’s registration history shows that, before joining Cetera in February 2025, he spent more than a decade with Concourse Financial Group Advisors and Concourse Financial Group Securities, Inc. (CRD# 15708) in Baton Rouge, Louisiana, where he was registered from May 2012 through February 2025. Prior to that, he was registered with Centaurus Financial, Inc. (CRD# 30833) in Baton Rouge from August 2002 through May 2012.
In addition to his broker-dealer and advisory affiliations, BrokerCheck identifies outside business activities, including doing business as Prestridge Financial Management, an insurance and financial services operation based at the same Baton Rouge address, and Prestridge Tax Solutions, a tax preparation business he has operated since 2013. Prestridge also reports having obtained the Certified Financial Planner (CFP) designation.
Jonathan Robin Prestridge Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck currently discloses one customer dispute involving Jonathan Robin Prestridge. The matter stems from a written customer complaint received in May 2023 while Prestridge was associated with Concourse Financial Group Securities, Inc.
2023 Customer Complaint Over Third-Party Managed Program – $200,000 Alleged Damages
In the sole disclosed customer dispute, the client alleged that Prestridge misrepresented a third-party managed investment program. The complaint asserts that the registered representative’s alleged misrepresentations about the program resulted in approximately $200,000 in damages. The product is identified as a “third party managed account,” rather than a traditional mutual fund, annuity, or direct security position.
BrokerCheck reflects that the written complaint was received on May 2, 2023, and categorized as a customer dispute involving alleged sales practice violations. The employing firm at the time of the activities was Concourse Financial Group Securities, Inc. Although the customer claimed damages of roughly $200,000, the complaint was ultimately reported as settled with a settlement amount of $0.00, and the broker’s individual contribution amount is also listed as $0.00.
In his BrokerCheck statement, Prestridge reports that the client executed a subscription agreement through a third party for the product, later requested a release, and that the release was granted with no compensation paid to the client.
Summary of Customer Dispute Disclosure
For context, the current disclosure history for Jonathan Robin Prestridge includes the following:
- Type of action: Customer dispute (written complaint – sales practice allegations) involving a third-party managed account program.
- Employing firm when activities occurred: Concourse Financial Group Securities, Inc.
- Allegations: Misrepresentation of a third-party managed investment program, with the client alleging approximately $200,000 in damages.
- Relevant date: Complaint received May 2, 2023.
- Product type: “Other: third party managed account.”
- Disposition/status: Complaint reported as settled; settlement amount $0.00; individual contribution $0.00; matter not reported as a FINRA arbitration or regulatory action.
Other Disclosures on Prestridge’s BrokerCheck Record
As of the most recent BrokerCheck report, Prestridge’s record shows one settled customer dispute and no other customer complaints. BrokerCheck does not disclose any FINRA or other regulatory actions, criminal matters, civil judgments, employment terminations, or bankruptcy events involving Jonathan Robin Prestridge at this time. Investors should understand that even a single complaint alleging sales practice violations may signal potential issues with how risks, fees, or strategies were presented and implemented in a customer’s account.
To obtain a copy of Jonathan Robin Prestridge’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) in the Context of Third-Party Managed Accounts
FINRA Rule 2111, the Suitability Rule, requires that a broker or associated person have a reasonable basis to believe that any recommended transaction or investment strategy is suitable for the customer based on that customer’s investment profile, including age, financial situation, tax status, investment objectives, risk tolerance, time horizon, and liquidity needs. In a case involving a third-party managed account program, Rule 2111 can apply both to the decision to recommend the program at all (reasonable-basis suitability) and to the decision to allocate a particular client’s assets into that program (customer-specific suitability).
In the dispute involving Prestridge, the client alleged misrepresentation related to a third-party managed program with claimed damages of approximately $200,000. Even if the firm later reported that the client was released with no payment, arbitrators evaluating similar fact patterns often consider whether the recommending broker: (1) conducted adequate due diligence on the outside manager and strategy; (2) reasonably matched the strategy’s risk/return profile to the client’s stated objectives; and (3) monitored the account for concentration, volatility, or other red flags. If the broker failed to meet these obligations, a panel could find that Rule 2111 was violated despite the absence of a formal regulatory sanction.
FINRA Rule 2010 (Standards of Commercial Honor and Just and Equitable Principles of Trade)
FINRA Rule 2010 requires that brokers and member firms “observe high standards of commercial honor and just and equitable principles of trade.” Unlike more technical rules, Rule 2010 is a broad conduct standard that can be implicated whenever a broker’s actions fall materially short of what regulators view as honest and fair treatment of customers. In customer dispute situations alleging misrepresentation, a finding that the broker materially overstated the benefits of a program, minimized risks, or failed to correct prior misleading statements can support a conclusion that the broker violated Rule 2010 even if no separate antifraud charge is brought.
In the context of the complaint against Prestridge, any evidence that the customer was not given a fair and balanced presentation of the third-party managed program—such as overemphasizing potential returns while downplaying fees, downside risk, or manager discretion—could suggest that the broker’s conduct failed to meet the high standards of commercial honor required by Rule 2010. Even where a firm pays no compensation to the client, arbitrators and regulators routinely examine whether the overall course of dealing was transparent, honest, and consistent with industry expectations.
FINRA Rule 2210 (Communications with the Public) and Misrepresentation Concerns
FINRA Rule 2210 governs broker communications with the public, including retail communications, correspondence, and institutional communications. The rule prohibits member communications that are false, exaggerated, unwarranted, promissory, or misleading, and requires that all materials present a fair and balanced discussion of risks and benefits. Although the Prestridge matter is reported as a customer complaint rather than a formal Rule 2210 enforcement action, allegations of misrepresentation in describing a third-party managed program squarely raise the types of issues that Rule 2210 is designed to prevent—namely, incomplete or one-sided sales presentations that omit material risk factors or limitations.
When advisors describe account programs, model portfolios, or outside managers, they must ensure that written and oral communications are accurate, do not overstate performance expectations, and clearly disclose fees, liquidity constraints, and significant risks. If an investor can show that they relied on overly optimistic or incomplete descriptions when deciding to enroll in a program, arbitrators may conclude that the broker engaged in conduct akin to fraud and misrepresentation, potentially implicating both Rule 2210 and broader suitability and conduct standards.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.