Erez Law is currently investigating Cetera Advisors LLC broker Stephen Lawler (CRD# 1193477), who faces multiple customer complaints related to unsuitable investment recommendations related to real estate securities. He has been registered with Cetera Advisors LLC in Peoria, Illinois, since 2022, and with Cetera Investment Advisers LLC, in Peoria, Illinois, since 2020. Previously, he was registered with:
- First Allied Securities, Inc. in Peoria, Illinois, from 2015 to 2022
- Lawler Financial Advisory Corporation in Peoria, Illinois, from 1997 to 2021
- First Allied Advisory Services, Inc. in Peoria, Illinois, from 2015 to 2020
- Investacorp, Inc. in Peoria, Illinois, from 1989 to 2015
Stephen Lawler Customer Complaints
He has been the subject of five customer complaints between 2020 and 2023, one of which was dismissed, according to his CRD report:
July 2023. “Claimant alleges alternative product recommendations were not suitable and that full disclosures were not made to her.” The case is currently pending. The complaint took place while he was registered with Investacorp, Inc., and it was regarding real estate securities and direct investments.
December 2021. “Claimants allege their financial adviser recommended unsuitable investments. Claimants generally allege unsuitability and failure to supervise.” The customer is seeking $100,000.01 in damages and the case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc., and it was regarding real estate investment trusts (REITs).
June 2021. “Claimant alleges unsuitability of alternative investments which caused financial harm. The allegations include unsuitability, overconcentration, misrepresentations, fraud, breach of contract, breach of fiduciary duty, negligence and violations of laws.” The customer is seeking $5,000 in damages, and the case is currently pending. The complaint took place while he was registered with Investacorp, Inc., and it was regarding real estate securities.
May 2020. “Claimants allege unsuitability with respect to REIT investments purchased between 2010-2014.” The customer sought $150,000 in damages, and the case was settled for $7,500. The complaint took place while he was registered with Investacorp, Inc., and it was regarding real estate securities.
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 Stephen Lawler’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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