Susan Lavon Welo, of Mayville, North Dakota, a stockbroker formerly registered with Cetera Advisor Networks LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, in which the customer requested $45,000.00 in damages based upon allegations that Welo failed to abide by the customer’s instructions to invest in short term securities; the customer’s assets were instead allegedly invested in business development companies and real estate security products.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Welo has been named in three additional customer initiated investment related disputes containing allegations of her wrongdoing while associated with UBS Financial Services Inc., PaineWebber Incorporated, and Investment Centers of America. Specifically, on February 23, 2001, a customer initiated investment related written complaint involving Welo’s conduct was settled for $17,500.00 in damages based upon allegations that Welo made unsuitable stock recommendations to the customer.
Subsequently, on April 20, 2009, a customer filed an investment related written complaint regarding Welo’s activities, where the customer requested $11,256.34 in damages based upon allegations that Welo made misrepresentations to the customer concerning variable annuity products, and failed to execute upon the customer’s investment instructions. On June 4, 2009, another customer filed an investment related written complaint involving Welo’s conduct, in which the customer requested more than $5,000.00 in damages based upon allegations that Welo churned the customer’s account.
Welo was terminated from Cetera Financial Advisor Networks, LLC on October 3, 2016, based upon allegations that she entered into a loan arrangement with a firm customer without apprising her firm, and utilized blank forms signed by clients to effectuate transactions.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
