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Securities Arbitration

Kirby Spencer McDonald, of Omaha, Nebraska, a stockbroker formerly registered with Cetera Advisors LLC, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $100,001.00 in damages founded on accusations of unsuitable recommendations by McDonald regarding real estate security transactions when McDonald was associated with Cetera Advisors. FINRA Arbitration No. 21-01506.

FINRA Public Disclosure shows that McDonald has been identified in two more customer initiated investment related disputes concerning allegations of his wrongdoing. A customer filed an investment related complaint concerning McDonald’s conduct where the customer requested $26,000.00 in damages based upon accusations of McDonald placing them in an unsuitable fixed annuity the time that McDonald was associated with a QA3 Financial Corp. The complaint alleges that the policy did not allow for surrender charges to be waived if the policyholder required nursing home coverage.

McDonald is the subject of a customer initiated investment related written complaint that was resolved for $72,000.00 on July 16, 2020, founded on allegations of an unsuitable recommendation by McDonald regarding a variable annuity while McDonald was registered with Cetera Advisors. The complaint alleges that the customer unreasonably sustained tax consequences by following McDonald’s advice.

Since February 18, 2011, McDonald has been associated with Cetera Advisors as both a stockbroker and investment adviser representative.