Todd Ray Anderson, Broker with Benchmark Investments, Named in Pending Customer Dispute Alleging Unsuitable Investment Recommendations

Anderson was discharged from Cetera Advisors in 2019 based on allegations of misconduct.

Todd Ray Anderson (CRD#: 1896352) is registered as a broker and investment adviser with Benchmark Investments, where he has been employed since 2019.

Previously, Anderson was registered as a broker and investment adviser with Cetera Advisors, where he was employed from 2014 until 2019.

Anderson has ten disclosures on his BrokerCheck report. One customer dispute filed against Anderson was denied.

September 2020 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges their registered representative made unsuitable investments.
• Settlement Amount: $7,500.00

July 2020 Customer Dispute

• Status: Pending
• Allegations: Customer alleges unsuitable investment recommendations made between 2010-2013 and other causes of action.

September 2019 Employment Separation After Allegations

• Firm Name: Cetera Advisors, LLC
• Termination Type: Discharged
• Allegations: The representative was terminated based on: 1) failure to follow the Firm’s written instruction that he obtain pre-approval for all mutual fund purchases; 2) failure to follow the Firm’s procedure requiring pre-approval of outside business activities; and 3) a customer allegation that the representative executed an unauthorized trade.

January 2018 Judgment / Lien

• Judgment/Lien Amount: $110,232.26
• Judgment/Lien Type: Tax

June 2017 Judgment / Lien

• Judgment/Lien Amount: $84,613.64
• Judgment/Lien Type: Tax

February 2017 Judgment / Lien

• Judgment/Lien Amount: $777,273.98
• Judgment/Lien Type: Tax
• Broker Comment: I was told by the IRS representative that the existing lien was being amended when in fact a new lien was filed.

February 2017 Judgment / Lien

• Judgment/Lien Amount: $365,148.89
• Judgment/Lien Type: Tax
• Broker Comment: I was told by the IRS representative that the existing lien was being amended when in fact a new lien was filed.

June 2010 Judgment / Lien

• Judgment/Lien Amount: $269,296.00
• Judgment/Lien Type: Tax

May 2009 Customer Dispute

• Status: Settled
• Allegations: Clients allege that representative misrepresented the features of a variable annuity riders. 
• Damage Amount Requested: $53,165.51
• Settlement Amount: $408,704.00
• Broker Comment: Policy was rescinded.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Todd Ray Anderson. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.