David Hammond: Cetera Advisor Faces $215K Complaint

A recent investor complaint against Tucson, Arizona financial advisor David Hammond (CRD# 235308) alleges that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cetera Wealth Services and Cetera Investment Advisers, respectively, doing business as Hammond and Associates.

Mr. Hammond’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2026, alleges that as a representative of Cetera Wealth Services, he acted negligently. The pending complaint alleges damages of $215,110.23.

An earlier investor complaint, filed in 2002, alleged that as a representative of Financial Network Investment Corporation, he failed to conduct an allocation in a timely manner. The complaint reached a settlement of $10,827.

For reference, negligence refers to an advisor’s failure to uphold their duty of care to their clients. Broadly speaking, that failure takes the form of an advisor doing something that a reasonably prudent advisor would not do under the same circumstances, or not doing something that a reasonably prudent advisor would do. The recommendation of unsuitable investments, the failure to diversify a portfolio, a lack of adequate due diligence on an investment: all of these can be forms of negligence. As with other forms of broker and advisor misconduct, representatives who engage in negligence may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, David Hammond holds 56 years of securities industry experience. Based in Tucson, Arizona, he has been registered as a broker with Cetera Wealth Services since 1983 and an investment advisor with Cetera Investment Advisers since 2023. His past registrations include Cetera Advisor Networks, Hartford Equity Sales, University Securities, InterPacific Investors Services, and Oppenheimer Asset Management. His credentials include the passage of seven securities industry qualifying exams: the Municipal Fund Securities Principal Examination, or Series 51; the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the Registered Principal Examination, or Series 40; the Registered Representative Examination, or Series 1; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 26 state licenses. (Information current as of August 13, 2026.)

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