Did you or someone you know lose money with broker Robert Magee, of Cetera Advisor Networks in Tarentum, Pennsylvania? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you about those losses. Mr. Magee was accused of misrepresenting material facts related to a variable universal life insurance policy, recommending an unsuitable limited partnership, mutual fund and annuity purchase that resulted in losses and recommending unsuitable limited partnership investments. These securities can be unsuitable for many investors, because of their age, net worth, investment risk tolerance and sophistication. A broker must do his due diligence on every security he recommends or sells, based on the above factors, and others, in order to try to prevent losses in the customer’s portfolios. If he does not, his brokerage firm may be liable for losses on a contingency fee basis. You may be able to bring a claim against Cetera Advisor Networks in the Financial Industry Regulatory Authority (FINRA) arbitration forum.
Robert Magee was previously registered with Waddell & Reed from September 1983 until November 1983, Merrill Lynch in New York, New York from October 1983 until February 1992, Nathan & Lewis Securities in New York from February 1992 until August 2003 and Walnut Street Securities in Tarentum, Pennsylvania from August 2003 until September 2013. He is currently registered with Cetera Advisor Networks in Tarentum, and has been since September 2013. He has four customer disputes against him, and 16 judgment/liens, according to public, online BrokerCheck records with FINRA.