Alexander Arango (also known as Alexander Arango Burkatkaya), of Dania, Florida, a stockbroker registered with Cetera Investment Services LLC, is the subject of a customer initiated investment related complaint filed on December 20, 2023. In this complaint, the customer requested damages based on allegations that Arango made misrepresentations of material fact and unsuitable recommendations in structured products during the time that he was associated with Cetera Investment Services LLC. The complaint was denied on January 17, 2024.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Arango is referenced in five other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. On December 14, 2022, a FINRA securities arbitration claim involving Arango’s conduct was settled for $45,000.00 in damages based on allegations that Arango made misrepresentations of material fact in connection with the sale of a Credit Suisse Note, a structured product, from September 2018 to 2022. FINRA Arbitration No. 22-00047.
On September 6, 2021, another customer initiated investment related complaint involving Arango’s conduct was settled for $6,987.24 in damages. The allegations included unsuitable recommendations, misrepresentations of material fact, and unauthorized trading in structured products while Arango was associated with LPL Financial LLC.
Arango was also referenced in a customer initiated investment related complaint that was settled on November 22, 2021, for $20,000.00 in damages based upon allegations that Arango made misrepresentations and unsuitable recommendations in structured products when Arango was associated with LPL Financial LLC.
On July 26, 2022, a customer initiated investment related complaint involving Arango’s conduct was settled for $6,500.00 in damages based upon alleged unsuitable advice and misrepresentations by Arango in connection with the sale of structured products.
Arango is also referenced in a customer initiated investment related complaint filed on October 24, 2023, in which the customer requested compensatory damages based upon allegations that Arango misrepresented Morgan Stanley structured products. This occurred during the time that Arango was associated with Cetera Investment Services LLC.
Arango has been associated with Cetera Investment Services LLC in Dania, Florida since January 14, 2019, and with Cetera Investment Advisers LLC in Dania, Florida since January 14, 2019. Previously, Arango was associated with LPL Financial LLC in Hollywood, Florida from April 13, 2015, to December 3, 2018.
