Mark Ferrer: Cetera Advisor Fired by Raymond James

Wilmington, North Carolina financial advisor Mark Ferrer (CRD# 1053006) was fired by a former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former Raymond James representative is currently a broker with Commonwealth Financial Network.

Mr. Ferrer’s BrokerCheck report discloses his termination from Raymond James Financial Services. Filed in March 2023, it alleges he was fired in connection with allegations that he “engaged in conduct that was inconsistent with firm policies on advising about products not sponsored by the firm.”

Investors should be aware that FINRA Rule 3280 prohibits FINRA registered representatives from engaging in private securities transactions except under certain conditions. The rule defines such transactions as “any securities transaction outside the regular course or scope of an associated person’s employment with a member.” Also known as selling away, a broker’s participation in private securities transactions is permissible in some cases, such as transactions with immediate family members for which no FINRA associated person receives selling compensation, provided the representative provides written notice to their member firm. Private securities transactions are generally also subject to an individual firm’s policies and procedures. Representatives who improperly engage in private securities transactions may subject to disciplinary actions by their member firms and/or securities regulators like FINRA.

According to the Financial Industry Regulatory Authority, Mark Ferrer holds more than 30 years of securities industry experience. Based in Wilmington, North Carolina, he has been a broker with Commonwealth Financial Advisors since 2023. His past registrations include Raymond James Financial Services, Wachovia Securities, and First Albany Corporation. His credentials include the passage of seven securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Corporate Securities Limited Representative Examination, or Series 62; the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of May 15, 2023.)

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