Bob Westbrook: Cetera Advisor Faces Suitability Complaint

Scottsdale, Arizona financial advisor Bob Westbrook (CRD# 1189454) recently received an investor complaint alleging that he made unsuitable investment recommendations. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cetera Advisor Networks, as well as a representative of Westbrook Financial Services.

Mr. Westbrook’s BrokerCheck report discloses one investor complaint. Filed in October 2024, it alleges that as a representative of Cetera Advisor Networks, he recommended unsuitable investments. The pending complaint alleges unspecified damages.

Investors should be aware that financial advisors like Mr. Westbrook are required by securities industry rules and regulations to recommend suitable investments. The suitability standard, as outlined by FINRA Rule 2111 and the SEC’s Regulation Best Interest, requires advisors to have a reasonable basis to believe that a recommendation is in a customer’s best interest. To ascertain a recommendation’s suitability, representatives must conduct reasonable diligence into an investor’s profile, which includes such factors as their age, financial situation, tax status, risk tolerance, and liquidity needs.

Westbrook Financial Services’ website includes a page describing the firm’s mission. “Our mission is to get to know and understand your needs, wants, and long-term goals,” it explains. “We understand the challenges families face today. From managing debt to saving for college to retirement, these personal finance challenges can be overwhelming. Our commitment is to utilize all of our resources to help you pursue your goals.”

According to the Financial Industry Regulatory Authority, Bob Westbrook holds 40 years of securities industry experience. Based in Scottsdale, Arizona, he has been registered as a broker and an investment advisor with Cetera Advisor Networks since 2014 and 2023, respectively. He is a representative of Westbrook Financial Services. His past registrations include New England Securities, MML Investors Services, and Massachusetts Mutual Life Insurance Company. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 26 state licenses. (Information current as of December 9, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.