Securities Lawyers Blog
According to BrokerCheck records financial advisor Travis Hughes (Hughes), currently employed by Cetera Advisors LLC (Cetera) has been subject to twelve customer complaints and one employment termination for cause during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the many of the customer complaints against Hughes concern allegations over variable annuity sales practices and non traded real estate investment trusts (Non-Traded REITs).
In August 2008 Hughes was terminated by AXA Advisors, LLC (AXA) after the firm alleged that Hughes failed to follow compliance procedures and policies after the broker was placed on enhanced supervision by the firm.
In August 2018 a client complained that Hughes violated the securities laws by recommending Non-Traded REITs. The customer alleged $18,253 in damages. The claim is currently pending.
In January 2017 a client complained that Hughes violated the securities laws by recommending unsuitable investments between 2011 and 2013. The customer alleged $85,000 in damages. The claim settled for $37,500.