Ken Arena: $500K Complaint Against Cetera, Ex-Newbridge Advisor

Pompano Beach, Florida financial advisor Ken Arena (CRD# 6997) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Cetera Wealth Services and an investment advisor with Cetera Investment Advisers.

Mr. Arena’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2026, alleges that as a representative of Newbridge Securities Corporation, he breached contract, failed in his supervisory duties, acted negligently, violated FINRA rules, breached his fiduciary duty, violated Regulation Best Interest, and made misrepresentations regarding alternative investments. The pending complaint alleges damages of $500,000.

An earlier investor complaint, filed in 2013, alleged that as a representative of Ameriprise Financial Services, he made excessive trades. The complaint reached a settlement of $170,311.59.

A third disclosure on Mr. Arena’s BrokerCheck report concerns his resignation from Ameriprise Financial Services. Filed in 2014, the disclosure states that he was “permitted to resign while under review for company policy violations related to suitability of a short-term trading strategy.” In a statement included with the disclosure, he wrote that he resigned of his own volition and that no policy violations were identified or communicated with him. “The suitability of the trading strategy was never questioned and to this date has not been addressed as unsuitable,” he concluded.

According to the Financial Industry Regulatory Authority, Ken Arena holds 54 years of securities industry experience. Based in Pompano Beach, Florida, he has been registered as a broker with Cetera Wealth Services since 2023 and an investment advisor with Cetera Investment Advisers since 2024. His past registrations include Newbridge Securities Corporation, Ameriprise Financial Services, Wachovia Securities, First Union Brokerage Services, Compulife Investor Services, SunAmerica Securities, Anchor National Financial Services, Waddell & Reed, Dean Witter Reynolds, Morgan Keegan & Company, Kidder Peabody, Oppenheimer & Company, and Merrill Lynch. His credentials include the passage of six securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; the Registered Representative Examination, or Series 1; the AMEX Put and Call Exam, or PC. (Information current as of April 16, 2026.)

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