Stephen Thomas Kerutis (also known as Steve Kerutis), of Loudon, Tennessee, a stockbroker registered with Cetera Advisers LLC, was the subject of a customer initiated investment related complaint filed on December 7, 2023, in which the customer requested $20,000.00 in damages based upon allegations that Kerutis made misrepresentations of material fact in connection with the sale of structured products during the time that Kerutis was associated with Cetera Advisers LLC. This complaint was denied.
Kerutis is referenced in six other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. FINRA Public Disclosure shows that on October 19, 2010, a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim involving Kerutis’s conduct was settled for $65,000.00 in damages based upon allegations that Kerutis made misrepresentations of material fact, breached his fiduciary duties, violated state securities laws, and breached a contract in connection with the sale of mutual funds when Kerutis was associated with Edward Jones. FINRA Arbitration No. 09-04011.
On May 31, 2012, another customer filed an investment related complaint involving Kerutis’s conduct in which the customer requested $79,000.00 in damages based upon allegations that Kerutis made misrepresentations of material fact in connection with the sale of mutual funds during the time that Kerutis was associated with Edward Jones. This complaint was denied.
Kerutis is also referenced in a customer complaint filed on June 25, 2015, in which the customer requested compensation based upon allegations that Kerutis disregarded their investment objectives and that a lack of diversification and poor trading resulted in losses when Kerutis was associated with Wells Fargo Advisors Financial Network LLC.
On August 15, 2022, another customer filed a complaint involving Kerutis’s conduct in which the customer requested compensatory damages based upon allegations that Kerutis failed to perform due diligence in connection with the sale of structured investments during the time that Kerutis was associated with Truist Investment Services Inc. The complaint also alleged that the customer’s account was not diversified. The securities broker dealer denied this complaint.
On November 1, 2023, a customer complaint involving Kerutis’s conduct was settled for $93,110.74 in damages based upon allegations that Kerutis committed forgery and engaged in misrepresentation in connection with the sale of CDs when Kerutis was associated with LPL Financial LLC.
Kerutis was also referenced in a customer complaint filed on December 6, 2023, in which the customer requested compensatory damages based upon allegations that Kerutis made unsuitable recommendations in structured investments during the time that Kerutis was associated with Truist Investment Services Inc. This complaint was denied.
Kerutis was associated with BB&T Securities LLC in Richmond, Virginia from January 2, 2018, to February 17, 2021; Truist Advisory Services Inc. in Atlanta, Georgia from February 17, 2021, to April 27, 2021; and LPL Financial LLC in Lenoir City, Tennessee from April 27, 2021, to November 14, 2023.
Kerutis has been associated with Cetera Advisors LLC in Loudon, Tennessee as a stockbroker since November 21, 2023. He has been associated with Cetera Investment Advisers LLC in Loudon, Tennessee as an investment advisor representative since March 21, 2024.
