Were you the victim of former Cetera Advisor Networks LLC and LPL Financial LLC broker Sean Waggoner (CRD# 2748574) regarding selling away? He has been registered with Cetera Advisor Networks LLC in Houston, Texas since 2017 and with Alliant Retirement Consulting in Alpharetta, Georgia since 2013. Previously, he was registered with LPL Financial LLC in Houston, Texas from 2009 to 2017.
In January 2020, FINRA sanctioned him to pay a $10,000 civil and administrative penalty and fine and suspended him for two months regarding, “Without admitting or denying the findings, Waggoner consented to the sanctions and to the entry of findings that he participated in private securities transactions without providing prior written notice to his member firm. The findings stated that the purchases, which Waggoner made on his own behalf, were outside the scope of his employment with his firm. The findings also stated that Waggoner failed to provide prior written notice to his firm about personal brokerage accounts. When Waggoner became associated with his firm he disclosed that he had brokerage accounts held at another firm. His broker for the accounts moved to a different firm and Waggoner opened brokerage accounts at that firm. Waggoner signed and submitted annual compliance questionnaires to his firm in which he inaccurately represented that he did not have any undisclosed outside securities accounts.”
In April 2020, the Delaware Insurance Department sanctioned him to pay a $500 civil and administrative penalty and fine regarding, “respondent did not report an administrative action taken by finra to the delaware insurance commissioner.”
In August 2020, the Insurance Commissioner of the State of California suspended him for 14 days regarding, “Respondent did not report an administrative action taken by finra to the california insurance commissioner.”
Sean Waggoner Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
February 2022. “PARTICIPANTS in a 401K Plan allege that between 2009 and 2022, representative recommended costly investments to the detriment of the 401K Plan. Participants also allege that representative was not registered in the proper state to provide investment advice to the 401K Plan.” The case is currently pending. The complaint was regarding variable annuities and mutual funds and took place while he was registered with Cetera Advisor Networks LLC and LPL Financial LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cetera Advisor Networks LLC and LPL Financial LLC may be liable for investment or other losses suffered by Sean Waggoner’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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