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Damon Mapes: Ex-Cetera Advisor Faces $250K Complaint

A recent investor complaint against Hillsboro, Oregon advisor Damon Mapes (CRD# 4011748) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with LPL Financial, doing business as Banner Investment Services.

Mr. Mapes’ BrokerCheck report discloses two investor complaints. The most recent, filed in February 2024, alleges that as a representative of Cetera Investment Services, he recommended unsuitable real estate investments. The pending complaint alleges damages of $250,000.

An earlier investor complaint, filed in 2001, alleged that as a representative of Merrill Lynch, he recommended an unsuitable mutual fund investment. The complaint reached a settlement of $20,000.

Banner Investment Services’ website includes a profile of Mr. Mapes that describes his approach to investment management. “Damon has a degree in mathematics and education, and draws upon both specialties as he educates clients on investment tools and strategies,” it states. “He welcomes diverse clients, and encourages open dialog around long-term and short-term goals, and ways to prepare for life’s changes. In addition to referring clients to other experts, such as accountants and attorneys, he’ll help them prepare and will even join those meetings as a resource to support his clients’ best interests.”

According to the Financial Industry Regulatory Authority, Damon Mapes holds 22 years of securities industry experience. Based in Hillsboro, Oregon, he has been a broker and an investment advisor with LPL Financial since 2021, doing business as Banner Investment Services. His past registrations include Cetera Investment Services (Hillsboro, Oregon; 2020 and Bend, Oregon; 2013-2020), LPL Financial (Portland, Oregon; 2011-2013). Fintegra (Tillamook, Oregon; 2006-2011), Lincoln Financial Advisors (Portland, Oregon; 2005-2006), and H&R Block Financial Advisors (Tigard, Oregon; 2005). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Colorado, Hawaii, Idaho, Maryland, Nevada, Ohio, Oregon, Texas, Washington, and Wisconsin. (Information current as of March 5, 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.

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