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INVESTIGATION of JAMES McLELLAN of Cetera Advisors

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23
May

INVESTIGATION of JAMES McLELLAN of Cetera Advisors

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INVESTIGATION of JAMES McLELLAN of Cetera Advisors

 Israels & Neuman, PLC Investigates Complaints Against James McLellan of Cetera Advisors

 

Have you lost money with financial advisor James William McLellan (CRD# 706853) of Cetera Advisors in Rochester, Michigan?  We are investigating allegations of former customers related to James McLellan. James McLellan’s CRD report, a public record maintained by FINRA, states that McLellan has been the subject of eight customer complaints.

 

Specifically, James McLellan’s CRD report has eight customer complaints, making allegations of unsuitable investments, misrepresentations, and breaches of fiduciary duties.  McLellan is currently facing a customer complaint alleging unsuitable investments in a variable annuity.

 

In 2019, James McLellan obtained an arbitration award which sought to expunge six of these complaints.  None of the complainants appeared for the expungement process or filed an opposition.  In fact, most of the complainants’ addresses could not be found, and at least one of the complainants was deceased.  In order to complete the expungement process, McLellan is required to get the arbitration award confirmed with a court of competent jurisdiction.

 

James McLellan is a registered representative of Cetera Advisors from November 2014 to the present.  He also previously worked with Newbridge Securities from 2009 to November 2014.  He has worked at branch offices in Rochester, Michigan.  McLellan is also affiliated with McLellan Group and McLellan Financial Services.

 

Brokerage firms like Cetera Advisors have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Michigan and throughout the Detroit area.  Attorney Aaron Israels is licensed to practice law in Michigan, he grew up in Holland, Michigan and also lived for many years in the Detroit area.  We have also represented a number of victims who had their money stolen by Michigan brokers, including Christopher Tolmacs.   Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Cetera Advisors.

 

Click to view: McLellan, James BrokerCheck

Click to view:  McLellan, James Arbitration Award

 

If you lost money with James McLellan or Cetera Advisors, CONTACT ISRAELS & NEUMAN at 720-599-3505 or 206-795-5798 for a free evaluation of your case.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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