Former Cetera Advisor Networks LLC broker Charles Weldon (CRD# 1030659) faces multiple customer complaints related to stock losses. He has been registered with Independent Financial Group, LLC in Boca Raton, Florida, since 2022. Previously, he was registered with the following brokerage firms:
- Weldon & Company in Boca Raton, Florida, from 1997 to 2022
- The Investment Center, Inc. in Boca Raton, Florida, from February to March 2022
- Cetera Advisor Networks LLC in Boca Raton, Florida, from 2017 to 2022
- Girard Securities, Inc. in Boca Raton, Florida, from 2004 to 2017
Charles Weldon Customer Complaints
He has been the subject of four customer complaints between 2015 and 2023, according to his CRD report:
July 2023. “Claimants generally allege breach of fiduciary duty, negligence, misrepresentation and failure to supervise.” The customer is seeking $1,000,000 in damages, and the case is currently pending. The complaint was related to margin interest, which occurred while he was registered with Cetera Advisor Networks LLC.
March 2023. “Allege they lost money as a result of the investment strategy utilized by the representative.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding common and preferred stock losses, which occurred while he was registered with Cetera Advisor Networks LLC.
March 2023. “Claimants allege their portfolios were overconcentrated in similar securities which resulted in losses.” The customer is seeking $5,001 in damages; the case is currently pending. The complaint was regarding common and preferred stock losses, which occurred while he was registered with Cetera Advisor Networks LLC.
June 2015. “Customer filed a FINRA arbitration 15-01195 against Girard Securities as the supervising broker/dealer. Weldon was not named. allegations are unsuitable transactions, breach of fiduciary duty, negligence, failure to supervise.” The customer sought $335,000 in damages, and the case was settled for $51,452. The complaint was regarding variable annuities and common and preferred stocks.
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 Advisor Networks LLC may be liable for investment or other losses suffered by Charles Weldon’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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