Mark Joneson Allegedly Recommended, Misrepresented Unsuitable Investments

Mark Joneson (CRD #: 4119915), a broker registered with Cetera Advisor Networks, allegedly made misrepresentations, according to his BrokerCheck record, accessed on August 21, 2022. Investors may have also engaged his services through AdvisorNet Wealth Management. If you have questions about Mark Joneson’s conduct as a broker, read on.

Investor Dispute

On May 5, 2022, an investor alleged that Mark Joneson misrepresented investments the client purchased in 2014, that these investments were unsuitable, and that Mark Joneson overconcentrated his account(s) in these investments.

The investor also alleged that Cetera Advisor Networks failed to supervise Mark Joneson and failed to conduct due diligence on the investments he recommended. This dispute is pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of fraudulent tactics, including the misrepresentation or omission of material information, to influence investors’ decisions.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to examine the information in an investor’s profile to determine whether an investment fits their client’s financial goals. Investors’ profiles contain information about their tax status, risk tolerance, and other investments.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their money through FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision over their employees in order to detect and prevent violations of securities regulations. Among other things, firms must appoint supervisors and ensure that they have adequate training or experience to fulfill their roles.

Background Information

Mark Joneson has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 51 – Municipal Fund Securities Principal Examination
• Series 24 – General Securities Principal Examination

Mark Joneson is a registered broker in Georgia, Minnesota, Oklahoma, and South Dakota. He is also a registered investment adviser in South Dakota and Texas.

He has also worked for the following firms:

• Berthel, Fisher & Company Financial Services (CRD#:13609)
• BFC Planning (CRD#:119682)
• Cetera Advisors (CRD#:10299)
• Multi-Financial Securities Corporation (CRD#:10299)

Kurta Law Can Help

If you worked with Mark Joneson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.