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Broker Complaints: Cetera Financial Specialists LLC (CRD# 10358)

The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding the Illinois-based brokerage firm Cetera Financial Specialists LLC (CRD# 10358).

Cetera Financial Specialists is registered in fifty-three US states and territories, though it is headquartered in Schaumburg, Illinois. The brokerage was formed as a limited liability company in 2012; Enrique Martin Vasquez serves as Manager and Chief Executive Officer, while Gregg Alan Ruvoli serves as President. According to its BrokerCheck report, Cetera Financial Specialists is the subject of four customer complaints and five regulatory actions.

In 2014 the Financial Industry Regulatory Authority sanctioned Cetera Financial Specialists following allegations the firm failed to maintain adequate supervisory measures that would have detected and prevented unsuitable excessive trading and churning in customer accounts. Cetera was censured and issued a penalty of $75,000.

In 2012 a customer alleged Cetera Financial Services breached its fiduciary duty, misrepresented an investment, omitted material facts pertaining to an investment, acted negligently, breached its contract, and sold unsuitable investments. In 2013 the complaint resulted in an award to the customer of more than $1,082,600.

In 2011 the Florida Division of Securities sanctioned Cetera Financial Specialists following allegations the firm conducted securities business in Florida without branch registration. Cetera was issued a fine of more than $11,000.

In 2009 the State of Nevada sanctioned Cetera Financial Specialists following allegations the firm failed to enforce supervisory measures, resulting in a representative improperly maintaining the trade blotter. Cetera Financial Specialists was issued a fine of $2,500.

In 2009 a customer alleged Cetera Financial Specialists breached its fiduciary duty, misrepresented an investment, and omitted material facts related to an investment. In 2010 the complaint resulted in an award to the customer of more than $363,000.

In 2009 a customer alleged Cetera Financial Specialists breached its fiduciary duty, misrepresented an investment, omitted material facts related to an investment, and recommended unsuitable investments. In 2010 the complaint resulted in an award to the customer of more than $179,000.

In 2000 the National Association of Securities Dealers (NASD) sanctioned Cetera Financial Services following allegations the firm allowed a representative to conduct securities business despite an inactive registration with NASD. NASD issued Cetera Financial Services a fine of $5,000.

If you have lost money investing or have complaints regarding Cetera Financial Specialists, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be qualified to recover your losses. All cases are taken on contingency: we only get paid if and when you recover money.  Time to file your claim may be limited, so we encourage you to avoid delay. Again, you spend no money out of pocket. Call 877-238-4175 now to speak to an attorney for free.