Donald McFarland Involved In Centaurus Client Dispute About Breach Of Fiduciary Duty

One or more investors possibly experienced losses because of securities broker Donald Ray McFarland (also known as Don McFarland, Donnie McFarland, and Mac McFarland) [CRD: 1206382, Oklahoma City, Oklahoma], according to publicly available information on FINRA BrokerCheck. Notably, Donald McFarland worked for Centaurus Financial, Inc. from October 19, 2004 to December 16, 2021. Read the following sections to know more about the disclosures involving McFarland and what they could mean for affected investors.

Centaurus Financial Investor Accused Don McFarland Of Misrepresentation

Specifically, on July 12, 2024, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-01490 about Donald McFarland. Mainly, the client alleged that McFarland breached his fiduciary duty, made unsuitable recommendations of risky products, and misrepresented a variable annuity. As a result, the client allegedly experienced damages. Therefore, the client requested compensatory damages from Centaurus Financial or McFarland. Evidently, this arbitration is pending a resolution.

Donald McFarland Disclosed Unsuitable Recommendations Allegations By Centaurus Financial Client

Particularly, a client of Centaurus Financial Inc. disputed Donald McFarland’s sales practices, according to a complaint dated November 14, 2006. Allegedly, McFarland made misrepresentations and made unsuitable recommendations about variable annuities. Supposedly, the securities broker said that the annuities would never lose money and would generate 5 percent annual returns. Consequently, the client sought $119,990.27 in compensation from Centaurus Financial or McFarland in this matter. However, the firm denied this complaint.

Other Disclosures Involving Don McFarland Alleged Unregistered Securities, Violation Of Contract

McFarland was discharged by Wilbanks Securities on September 23, 2004, for allegedly violating a written contract related to insurance business. Additionally, on August 8, 1988, the Oklahoma Department of Securities sanctioned McFarland for offering unregistered securities and acting as an unregistered agent and financial advisor. He consented to a cease-and-desist order and paid a $2,500 civil penalty.

Were You Impacted By Securities Broker Donald McFarland?

Do you have questions or concerns about investments you made through Donald McFarland? If so, contact Soreide Law Group online or at (888) 760-6552 and consult with a securities lawyer. Soreide Law Group has recovered losses for investors throughout the United States. Also, the firm takes investor cases on a contingency fee basis and advances the costs. McFarland and brokerage firms McFarland worked for deny allegations of sales practice violations.