Timothy Richard Farris, of West Bloomfield, Michigan, a stockbroker registered with Cetera Advisors LLC, is the subject of a customer initiated investment related complaint filed on May 22, 2024. The customer sought $33,000.00 in damages, based on allegations of the unsuitable investment recommendation of variable annuities and index funds when he was registered with Cetera Advisors. As of October 7, 2024, this matter is pending.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Farris was also referenced in a customer initiated investment related dispute filed on July 17, 2023, against Sigma Financial Corporation. The customer alleged excessive and unsuitable trading in investments purchased between 2015 and 2021. The customers also alleged failure to supervise certain representatives who executed transactions in the customer’s account. On September 20, 2024, the matter was resolved through a settlement in which Sigma Financial Corporation paid $305,000.00 to the customer. FINRA Arbitration No. 23-01454.
Farris has been associated with Cetera Advisors LLC as a stockbroker since December 16, 2021, and with Cetera Investment Advisers LLC as an investment advisor representative since March 21, 2024. He was previously registered with Sigma Financial Corporation from May 15, 2015, to December 17, 2021.
