- January 6, 2019
- Cetera Advisors LLC
The Wolper Law Firm is currently investigating claims against Travis Hughes, a Financial Advisor at Cetera Advisors in El Paso, Texas. Travis Hughes has been in the securities industry since the 1980s and previously worked at Investors Capital Corp.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Travis Hughes has had twelve (12) customer complaints filed against him during his career, including two complaints since 2017, in which customers alleged sales practice violations. Among the customer complaints include the following:
- August 2018—“Client alleges poor performance in REIT investments.” The matter remains pending.
- January 2017—Client alleges “suitability of investments made between 2011-2013.” The matter was settled for $37,500.
- August 2009—”CLAIMANTS SUSTAINED UNREALIZED MARKET LOSSES AND NOW CLAIM THAT THE VARIABLE LIFE INSURANCE POLICIES PURCHASED IN 2005 WERE UNSUITABLE. CLAIMANTS ALSO ALLEGE THAT THEY WERE UNFAMILIAR WITH THE FEATURES OF VARIABLE LIFE INSURANCE PRODUCTS AND UNAWARE THAT THEIR VALUE WAS DEPENDENT UPON MARKET PERFORMANCE. CLAIMANTS SEEK UNSPECIFIED DAMAGES FROM MULTIPLE DEFENDANTS. SEE COMMENTS SECTION.” The matter was settled for $10,000.
- September 2008—”PLAINTIFF ALLEGES FRAUD, MISREPRESENTATION AND BREACH OF CONTRACT FOR PRODUCTS AND SERVICES THAT WERE UNSUITABLE FOR PLAINTIFF’S NEEDS. DAMAGES UNSPECIFIED.” The matter was settled for $350,000.
For a full copy of Travis Hughes’s CRD, click https://brokercheck.finra.org/individual/summary/1532177#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm is interested in speaking with clients of Travis Hughes as part of its investigation. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.