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Jon Rustad: $343K Oil & Gas Complaint Against Premier Wealth Advisor
Scottsdale financial advisor Jon Rustad (CRD# 2210391) has received multiple investor complaints alleging he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Centaurus Financial, doing business as Premier Wealth Strategies.
Mr. Rustad’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of Independent Financial Group, he over-concentrated the customers’ accounts in unsuitable illiquid investments, including oil and gas and real estate products. The pending complaint alleges damages of $343,475.
In a comment included with the pending complaint’s disclosure, Independent Financial Group stated its intention to defend the matter, and described the allegations as baseless. “A preliminary review of the documents and information does not support the claims/allegations,” the statement reads. “The fact that an investment does not perform as anticipated does not automatically mean it was not suitable.”
A second investor complaint, filed in 2021, alleged that as a representative of Independent Financial Group, he recommended unsuitable investments in real estate investment trusts (REITs). In 2022 the complaint reached a settlement of $45,000.
According to the Financial Industry Regulatory Authority, Jon Rustad holds 30 years of securities industry experience. Based in Scottsdale, Arizona, he has been a broker and an investment advisor with Centaurus Financial since 2021, doing business as Premier Wealth Strategies. His past registrations include NPB Financial Group (Scottsdale, Arizona; 2014-2021), Independent Financial Group (Scottsdale, Arizona; 2008-2014), SII Investments (Lake Oswego, Oregon; 2003-2008), Sunset Financial Services (Portland, Oregon; 2003), Carillon Investments (Portland, Oregon; 2002), Mony Securities Corporation (New York, New York; 2000-2002), Pruco Securities Corporation (Newark, New Jersey; 1992-2000), and the Prudential Insurance Company of America (Newark, New Jersey; 1992-1993). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Idaho, Oregon, and Washington. (Information current as of February 4, 2023.)
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.