Category Archives: Cetera Advisors

Rodrick Dow-Former Securities America Broker-Suspended by FINRA- Houston, TX

April 2020-Houston, TX

According to publicly available records of Rodrick Dow (CRD#2855724) ,  a  former stockbroker who last worked for Securities America, Inc.,  was recently suspended indefinitely.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In November of 2019, FINRA  suspended  Dow  from the securities industry, indefinitely,  after  he failed to comply with an arbitration award ordering him to repay a loan to his former employer, Securities America.

In 2012 Dow, who was also a certified public accountant, was suspended for 2 years by the Texas State Board of Accountancy and fined $19,769 for failing to correctly prepare a client tax return, failure to attend an IRS meeting regarding a client audit and misleading advertising on his business website.

Dow  was employed by Securities America  from August/ 2016 until November/2019.      Prior to that time he was with Cetera Financial Specialist, Cetera Investment Advisors, Centaurus Financial, Inc. and H.E. Vest Investment Services.   

If you have questions about  an account handled by Rodrick Dow  call to discuss your options with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Richard L. Pittman-Cetera Advisors Broker-Discloses Settlement of Customer Suits-Memphis, TN

January 2020- Memphis, TN

The FINRA records of Richard Lynn Pittman, a stockbroker employed by  Cetera Advisors, disclose a pending customer dispute and 3 prior customer disputes .

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 9/19, a customer of  Investors Capital Corp. filed FINRA case #19-02785 alleging that investments in limited partnerships and other direct investments, made in 2008 . were unsuitable and is seeking $150,000 in damages.   The case is still pending.

In 8/19, a customer of Investors Capital Corp. was paid $45,000  to  resolve allegations of unsuitability of investments made in 2008.

In 8/19, another customer of Investors Capital Corp. was paid $95,000 to resolve allegations of suitability of investments made in 2008.

In 6/18 a customer of  Investors Capital Corp.,  was paid $75,000 to resolve allegations that investments made in 2008 were unsuitable.

Richard Lynn Pittman  has been employed by Cetera Advisors since 10/16.   Prior to  that he was with Investors Capital Corp. from 8/2000 until 10/16.

If you have questions about an account  handled by Richard Lynn Pittman call for a no charge consultation to learn more about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Kendall J. Groom- Former Independent Financial Group Broker- Barred From Securities Industry- Fresno, CA

January 2020- Fresno, CA

The FINRA records of Kendall J. Groom  , a broker previously employed  by  Independent Financial Group disclose  a regulatory event resulting in his bar from the securities industry.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In August 2019, Groom was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that as trustee he diverted approximately $460,000 of the trusts’ assets to brokerage, advisory, and bank accounts that he owned or controlled.

In addition to the bar from the industry, he was ordered to disgorge over $262,000 and pay penalties and interest in excess of $200,000.

Groom worked for Independent Financial Group from December of 2016 to August of 2019.   From November of 1999-December of 2016, he worked for Cetera Financial . Groom discloses a business affiliation with Groom, McCormick LLP, an accounting firm.

If you have problems in an account  handled by Kendall J. Groom  call for a no charge consultation .

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Robert Edward Burns- Cetera Broker-Discloses Customer Disputes-Greenwood Village, CO

January 2020- Greenwood Village, CO

The FINRA records of Robert Edward Burns, a stockbroker employed by  Cetera Advisor Networks disclose a pending customer dispute and  a prior customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In August 2018 a  customer of Burns’ prior employer ,VSR Financial Services, Inc.; Summit Brokerage Services, was paid $150,000 in FINRA case #18-02447 to  resolve allegations that Burns made unsuitable investments in real estate securities and UDF IV.

In pending FINRA case #19-02163,  a VSR Financial Services, Inc.; Summit Brokerage Services, customer alleges overconcentration and unsuitable investments in alternative products as well as alleging that the firm failed to do due diligence on the alternative investments and is seeking $500,000 in damages.

For more information regarding the recovery of losses on alternative investments purchased from the now defunct VSR Financial Services, see this. 

Burns  has been employed by Cetera Advisors since September of 2019.   From September of 2016 until September of 2019, he was with Summit Brokerage Services and from September of 2016 until November 2016 he was with VSR Financial Services.

If you have questions about an account  handled by Robert Edward Burns Summit Brokerage, VSR Financial or Cetera Advisor Networks call for a no charge consultation to learn more about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Richard Pittman-Cetera Advisors Broker-Discloses 3 Prior Customer Disputes & 1 Pending Customer Dispute-Memphis, TN

January 2020- Memphis, TN 

The FINRA records of Richard L. Pittman, a stockbroker employed by  Cetera Advisor disclose a pending customer dispute and  3 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In October 2018 a  customer of  Pittman’s prior employer ,Investors Capital Corp., was paid $45,000 in FINRA case #18-03516 to  resolve allegations that Pitman made unsuitable investment recommendations.

In August of 2018, a customer of Investors Capital Corp. was paid $95,000 in FINRA case #18-02571 to resolve allegations that Pittman made unsuitable investments.

In 10/2016, an Investors Capital Corp. customer was paid $75,000 in FINRA case #17-00699  to resolve allegations that Pittman made unsuitable investment recommendations in oil & gas and real estate securities .

In pending FINRA case #19-02785 an Investors Capital Corp. customer alleges suitability of investments made in 2008 and i seeking damages of $150,000.

Pittman  has been employed by Cetera Advisors since October of 2016.   From August of 2008 until October 2016 he was with Investors Capital Corp.

If you have questions about an account  handled by Richard Pittman at Investors Capital or Cetera call for a no charge consultation to learn more about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870