Investigation of Cetera Advisors LLC Financial Advisor Donna Hines

Posted on Saturday, March 9th, 2019 at 11:55 am    

Cetera Advisors LLC logo

There are options for customers of Cetera Advisors LLC financial advisor Donna Hines (CRD# 4275524). Hines has been registered with Cetera Advisors LLC in Weston, West Virginia since 2013.

Hines has been the subject of four customer complaints between 2015 and 2018, according to his CRD report:

June 2018. “Clients claim vague allegations of unsuitable investments 2005-2018 along with negligence, breach fiduciary duty, misrepresentations and constructive/common law fraud.” The customer is seeking $142,026 in damages and the case is currently pending. This case was regarding variable annuities.

December 2015. “Claimant alleged misrepresentation, omissions, negligence, breaches related to the receipt of various alternative products from inherited assets in approximately 2011 ($340,000).” The customer sought $340,000 in damages and the case was settled for $100,000. This case was regarding oil and gas investments and non-traded real estate investment trusts (REITs).

December 2015. “Claimants alleged misrepresentation, omissions, negligence, breaches related to (1) the receipt of various alternative products inherited in approximately 2011 for wife ($340,000); (2) 2006 – claimant husband placed approximately $170,000 in ira brokerage account which was spent down by April 2011; (3) 2006/2007 claimant husband invested $255,000 in Sunamerica va with living benefits in which client took systematic withdrawls starting in May 2011 and then took a large withdrawal in October 2014 and then surrendered it fully in November 2014.” The customer sought $775,768.75 in damages and the case was settled for $100,000. This case was regarding variable annuities, oil and gas investments and non-traded REITs.

December 2015. “Claimants alleged misrepresentation, omissions, negligence, breaches related to (1) the receipt of various alternative products from inherited assets in 2008 for husband ($150,000) and again in approximately 2011 for wife ($340,000); (2) claimants invested $40,000 of their own monies into inland american in 2008; (3) july 2006 – claimant husband opened ira with approximately $240,000 in cash and $200,000 of it went to purchase a sunamerica va with living benefits. Claimant spent down the remaining $40,000 by July 2012.” The customer sought $777,255.35 in damages and the case was settled for $100,000. This case was regarding variable annuities, oil and gas investments and non-traded REITs.

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 Hines’ customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.