FINRA Bans Former Cetera Advisors LLC Financial Advisor Daniel B. Vazquez Sr.
Erez Law is currently investigating former Cetera Advisors LLC financial advisor Daniel B. Vazquez Sr. (CRD# 3141463) regarding unsuitable investments. Vazquez was registered with Cetera Advisors LLC in Irvine, California from 2013 to 2016. Previously, he was registered with Investors Capital Corp. in Irvine, California from 2011 to 2013.
In September 2016, FINRA barred Vasquez from association with any FINRA member in any capacity after he failed to request termination of his suspension within three months of the date of the Notice of Suspension.
Vazquez has been the subject of seven customer complaints between 2002 and 2017, three of which were denied, according to his CRD report:
June 2017. “Clients have alleged various causes of action resulting in investment losses from allegedly unsuitably investment activity dating back to 2012 and spanning two broker-dealers.” The customer is seeking $230,000 in damages and the case is currently pending.
December 2016. “Claimant is alleging that advisor recommended unsuitable investments.” The customer is seeking $150,000 in damages and the case is currently pending.
August 2016. “Client seeks recovery of alleged investment losses, generally asserting that investments made with the RR through two BDs from 2013-2016 were unsuitable, had been misrepresented, and were, in some cases, unauthorized.” The customer is seeking $107,392.85 in damages and the case is currently pending.
April 2016. “Unsuitable investments and unauthorized trades which led to portfolio losses.” The case is currently pending.
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 Advisors LLC may be liable for investment or other losses suffered by Vazquez’s customers.
Erez Law represents investors in the United States for claims against former Cetera Advisors LLC financial advisor Daniel B. Vazquez Sr. regarding unsuitable investments. If you were a client of Cetera Advisors LLC or another firm, and 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.