David Rockwell, CETERA ADVISOR NETWORKS

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against, CETERA ADVISOR NETWORKS, LLC (Respondent). Their former registered representative, David Rockwell, is not named in this lawsuit.
The Claimant has been retired since 2013. He is a conservative investor who relied upon the financial guidance of his former financial advisor, DAVID AARON ROCKWELL (David Rockwell) CRD#: 4236377.
The Claimant transferred from another firm to CETERA on or about June of 2015.  The lawsuit alleges that David Rockwell, while employed by CETERA, admitted to the Claimant to diverting over $418,000 from the Claimant while he was employed at CETERA. The lawsuit states that David Rockwell admitted this to the Claimant.
David Rockwell was in prison on unrelated charges of aggravated stalking and cyber stalking and threatening a person with violence. Rockwell had been arrested twice before coming to work for CETERA, and the lawsuit alleges CETERA chose to hire Rockwell and not put him under heighten supervision. In addition to the arrests, the lawsuit states that Rockwell had previously lied to the Office of Financial Regulation, and has had serious financial trouble in the past before working at CETERA.
The lawsuit alleges that David Rockwell diverted $418,000 from the Claimant’s IRA at CETERA, his Lincoln Financial annuity, the Claimant’s Protective Life Annuity, and moved the money to an Advanta IRA. The lawsuit states that from the Claimant’s Advanta IRA, Rockwell then moved all the money to invest in a company Rockwell started under the Claimant’s name, which Rockwell fully controlled. Rockwell allegedly told the Claimant that the company he started was a great investment opportunity to invest in “low income housing” where he would make 7% annually. The lawsuit alleges that David Rockwell then proceeded to wire all the money from the Claimant’s company to Grayln Financial and Broyles Financial where Rockwell allegedly diverted the money for his own personal use.
The Claimant has now lost the majority of his life savings. The Claimant is not a sophisticated investor and was allegedly completely reliant upon CETERA broker Rockwell for all investment advice. The lawsuit states that Rockwell made all investment decisions for the Claimant and had complete control over his money. The money lost at the hands of CETERA representative, David Rockwell, represented over 40 years of work and savings for the Claimant. Although the damage analysis is presently ongoing, the lawsuit states that CETERA’S  failure to supervise and monitor their client’s accounts resulted in damages to the Claimant of approximately $500,000.00.
The lawsuit is claiming: negligence, breach of fiduciary duty, and negligent supervision. 
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, David Rockwell has 8 Disclosures on his CRD report.  There are two “Customer Disputes” pending which were both filed in 2019. One of the Disputes is for damages requesting $500,000, and the other Dispute is requesting $700,000 and alleging, “Clients allege Mr. Rockwell was involved in forgery and fraud regarding their accounts.” There are two “Employment Separation After Allegations” listed, three “Criminal” Disclosures, and one “Regulatory” Disclosure also on his report.
David Rockwell is currently not registered as a broker, but has been in the securities industry for 18 years and was listed with 5 firms, the most recent firms are listed below:
12/07/2015 - 11/16/2018  CETERA ADVISOR NETWORKS LLC - FORT MYERS, FL
06/01/2015 - 08/10/2015  CETERA ADVISOR NETWORKS LLC - SEWICKLEY, PA
12/03/2012 - 06/12/2015  SUNTRUST INVESTMENT SERVICES, INC - FORT MYERS, FL
If you were also a victim of the former CETERA ADVISOR NETWORKS LLC of FORT MYERS, Florida, broker, David Rockwell, contact the South Florida based, Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.