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Securities Arbitration

Daniel George McPherson (also known as Dan McPherson), of Idaho Falls, Idaho, a stockbroker formerly registered with Cetera Advisors LLC, is the subject of a customer initiated investment related FINRA Securities Arbitration claim which was resolved for $57,500.00 in damages supported by accusations of McPherson making unsuitable recommendations to the customer regarding private placements, real estate securities, and variable annuities during the time that McPherson was employed by Cetera Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02103 (August 27, 2021).

McPherson has been identified in two more customer initiated investment related disputes regarding accusations of his harmful activities. FINRA Public Disclosure shows that a customer initiated investment related arbitration claim concerning McPherson’s conduct was settled for $1,000,000.00 in damages based upon allegations that McPherson misrepresented information in regard to the customer’s investments in tenant in common investments, oil and gas securities, and equipment leasing securities while McPherson was associated with Sammons Securities Company. According to the claim, the alternative investments were not suitable for the customer.

McPherson is also identified in a customer initiated investment related complaint in which the customer sought $40,451.00 in damages founded on accusations of unsuitable annuities sold by McPherson when he was registered with Parkland Securities and Cetera Advisors.

McPherson was registered with Cetera Advisors between February 28, 2012, and April 9, 2018.