Jonas Everett: Suitability Complaint Against Ex-Cambridge Advisor

Cedar Rapids, Iowa financial advisor Jonas Everett (CRD# 2396343) recently received an investor complaint alleging that his advice resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Premier Investments.

Mr. Everett’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2026, alleges that as a representative of Cambridge Investment Research, he recommended unsuitable real estate investments. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2024, alleged that as a representative of Cambridge Investment Research, he “recommended a speculative, illiquid, high commission product that was unsuitable for the clients” and which exposed the clients to unnecessary risk. The complaint reached a settlement of $6,750.

An unsuitable investment, as described by FINRA Rule 2111, is an investment or strategy which a broker lacks a reasonable basis to believe is appropriate for their customer’s investment profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other information. FINRA-associated brokers are required by Rule 2111 to conduct reasonable diligence to determine a customer’s profile; then, they must use this information to arrive at a determination as to whether an investment or strategy is not only suitable for some customers, but for that specific customer. Brokers who sell unsuitable investments, or who misrepresent information regarding an investment’s suitability, may be liable to their clients if those investments experience losses.

According to the Financial Industry Regulatory Authority, Jonas Everett holds 31 years of securities industry experience. Based in Cedar Rapids, Iowa, he has been registered as a broker and an investment advisor with LPL Financial since 2018, doing business as Premier Investments. His past registrations include Cambridge Investment Research, National Planning Corporation, Locust Street Securities, The Advisors Group, 1717 Capital Management, John Hancock Distributors, and John Hancock Mutual Life Insurance Company. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He holds 41 state licenses. (Information current as of May 18, 2026.)

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