Hector Alberto Mena, of Delray Beach, Florida, a stockbroker associated with Wells Fargo Clearing Services, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested approximately $300,000.00 in compensatory damages, as well as punitive damages, based on allegations that Mena provided unsuitable recommendations and executed an overall flawed investment strategy during the time that he was associated with Wells Fargo Clearing Services. FINRA Arbitration No. 22-01869 (August 22, 2022).
This is not the first time that Mena has been referenced in a customer initiated investment related dispute. FINRA Public Disclosure shows that Mena was also referenced in a customer initiated investment related complaint that was settled on November 11, 2021, for $5,500.00 in damages. The allegations in this complaint were that while Mena was associated with Wells Fargo, he advised customers that they would not incur a sales charge on their mutual fund purchase due to the size of their investment, which supposedly entitled them to an NAV breakpoint.
Mena was associated with Cetera Advisor Networks LLC in Hypoluxo, Florida, from November 22, 2021, to June 29, 2023. He has been associated with Cetera Investment Advisers LLC in Hypoluxo, Florida, since July 10, 2023. Prior to joining Cetera, Mena was associated with Wells Fargo Clearing Services LLC in Delray Beach, Florida, from June 13, 2016, to November 24, 2021.