According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jared Stines (Stines), previously associated with Cetera Investment Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Stines recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $53,204.00 on April 24, 2020.
On March 10th, 2020 [REDACTED] decided to engage us to assist in managing her retirement funds. After completing the advisory agreement and IRA account paperwork, [REDACTED] wanted to look at her 401k online. She logged in to check values and then [REDACTED] asked if the funds could be moved into a safe or cash account within the 401k. I showed them the stable value option within their 401k. They agreed that they would like to transfer to the stable value fund. I selected the balance transfer option and then selected 100% of the account to the stable value fund. Two days later we found out that only one fund holding had been transferred to stable value. The account had been invested very aggressively by [REDACTED] and had decreased in value since our last meeting. After finding this out, I encouraged them to stay invested and to avoid moving to cash on a volatile day. They did not listen to my advice and they decided to go ahead and liquidate as they were afraid of the market volatility and asked for $53,204 to be refunded to their account to cover their market loss.
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