Pending Complaints Against Cetera Broker Alexander Arango

Financial Industry Regulatory Authority (FINRA) records accessed on October 19, 2021 show that Florida-based Cetera Investment Services broker/adviser Alexander Arango has received, resolved or pending customer disputes. Investors with complaints about Mr. Arango (CRD# 6405666) are encouraged to call MDF Law at 800-767-8040 to discuss their rights.

Customer Files Complaint Related to Structured Notes

According to his BrokerCheck report[1], he has received one pending customer complaint, one settled customer complaint, and one denied customer complaint.

In April 2021 a customer alleged Alex Arango, while employed at LPL Financial, misrepresented material facts regarding an investment, recommended an unsuitable structured product, and engaged in unauthorized trading in the customer’s account or accounts. The complaint settled in September 2021.

In April 2021 a customer alleged Alexander Arango, while employed at LPL Financial, misrepresented material facts regarding an investment in a Credit Suisse Structured Note, resulting in losses. The customer sought $163,000 in damages in the complaint, which was denied by the firm.

In August 2021 a customer alleged Alexander Arango, while employed at LPL Financial, misrepresented material facts regarding an investment and recommended an unsuitable structured product. The customer is seeking damages of $60,399 in the pending complaint.

Arango Was Previously Registered with LPL Financial

Alexander Arango has spent six years in the securities industry and has been registered with Cetera Investment Services in Dania and Greenacres, Florida as a broker and investment adviser since 2019. His previous registrations include LPL Financial in Hollywood, Florida (2015-2018) and Merrill Lynch in Fort Lauderdale, Florida (2014-2015). He has passed three securities industry examinations: Series 66 (Uniform Combined State Law Examination), obtained on June 9, 2015; SIE (Securities Industry Essentials Examination), obtained on October 1, 2018; and Series 7 (General Securities Representative Examination), obtained on December 15, 2014. He holds securities industry registrations in California, Florida, Georgia, Massachusetts, Missouri, Oklahoma, Tennessee, Texas, and Virginia.

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