James Anderson

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Anderson (Anderson), previously associated with Cetera Advisor Networks LLC, has at least one disclosable event. These events include one customer complaint, alleging that Anderson 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 $20,938.00 on May 04, 2020.

CUSTOMER ALLEGES THAT IN 2017 THE REPRESENTATIVE RECOMMENDED AND PROCESSED A 401(k) LOAN WITHOUT ENSURING THE RECOMMENDATIONS WAS APPROPRIATE AND THIS RESULTED IN LOSSES DUE TO PENALTIES, SANCTIONS, INTEREST, AND EXPENSES.

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor James Anderson (Anderson), formerly associated with Ameritas Investment Corp. (Ameritas), and operating under the d/b/a name Central Financial Group was terminated by Ameritas in February 2019. Anderson was accused by Ameritas, upon conclusion of internal investigation, that he was found to have engaged in the sales of Indexed Annuities and Promissory Notes away from the firm.

In addition, in 2013 FINRA had found that during the exam period, Anderson was found to have sold Indexed Annuities that were not listed on the firm’s approved list. The transactions equaled to an undisclosed outside business activity, to which prompt/prior notice was not given to the firm.

The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”. At this point is unclear what securities or business activities Anderson was engaged in. His public disclosures state only that he operated out of his d/b/a firm Central Financial Group.

Articles Tagged with James Anderson

Broker James Anderson in Cetera Advisor Networks LLC Firm Has Customer Complaint

Advisor James Anderson Terminated Over Promissory Note Sales