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WARNING! Impending Investigation–CLARK S. GARDNER and CETERA ADVISORS LLC

15
Oct

WARNING! Impending Investigation–CLARK S. GARDNER and CETERA ADVISORS LLC

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Clark S. Gardner and Cetera Advisors LLC

We are currently investigating allegations made against Orem, Utah financial advisor Clark S. Gardner.  Gardner was recently barred from the securities industry by FINRA (the Financial Industry Regulatory Authority) for selling unapproved investments to his customers and for stealing money from his customers.  FINRA alleged that Clark Gardner stole $243,000 from a customer when he recommended an investment opportunity to the customer in April 2014.  Instead of investing the money as promised, Gardner is alleged to have used the money for personal expenses.  Gardner is also alleged to have sold investments in real property to a customer without permission from his brokerage firm, Cetera Advisors LLC.

Clark Gardner was a financial advisor and registered representative of Cetera Advisors from December 2013 to May 2014.  After Cetera discovered this conduct, he was terminated from the firm.  Gardner also previously was the subject of an investigation by the Utah Insurance Department for misrepresenting an insurance policy to a customer.  As a result of the Utah Insurance Department’s investigation, Gardner was fined $2,500, back in 2005.

Broker-dealers like Cetera Advisors have a duty to supervise the conduct of their financial advisors.  Broker-dealers must also ensure that their advisors follow all securities rules and regulations, which includes getting permission to sell all investments before recommending them customers.  If a broker-dealer like Cetera fails to adequately supervise their advisors and representatives, the broker-dealer may have liability for customer losses.  Our attorneys have represented investors in Utah in the past.  If you have lost money through Clark Gardner or Cetera Advisors and want to hear about ALL legal options, please visit http://www.israelsneuman.com/ or call us at 720-599-3505.

Click here to view FINRA AWC:  Gardner FINRA AWC

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