Dan McPherson: $500K Complaint Against Ex-Cetera Advisor

An investor complaint against Idaho Falls financial advisor Dan McPherson (CRD# 4964802) alleges that his investment advice resulted in six-figure damages. Records provided by the Financial Industry Regulatory Authority and the Securities and Exchange Commission indicate that the former Cetera Advisors broker is currently an investment advisor with CG Advisory Services.

Mr. McPherson’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2022, alleges that as a representative of Cetera Advisors, he recommended unsuitable investments in real estate products. The pending complaint alleges damages of $500,000.

A second investor complaint, filed in July 2020, alleged that as a Cetera representative, he recommended unsuitable investments in variable annuity, private placement, and real estate investments. In 2021 the complaint reached a settlement of $57,500.

A third investor complaint, filed in 2013, alleged that as a representative of Sammons Securities Company, he misrepresented and recommended unsuitable, illiquid investments in equipment leasing, oil and gas, and tenant-and-common products. In 2015 the complaint reached a settlement of $1 million.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Dan McPherson holds 17 years of securities industry experience. Based in Idaho Falls, Idaho, he has been an investment advisor with CG Advisory Services since 2018. His registration history includes Cetera Advisors (Idaho Falls, Idaho; 2012-2018), Pacific West Securities (Idaho Falls, Idaho; 2011-2012), Sammons Securities Company (Idaho Falls, Idaho; 2007-2011), Securities America (Idaho Falls, Idaho; 2006-2007), and Securian Financial Services (2005-2006). 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 Idaho. (Information current as of February 5, 2023.)

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