Mike Jarvis: 800K Complaint Against Cetera Advisor

McKinney, Texas financial advisor Mike Jarvis (CRD# 2160274) allegedly charged excessive fees, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Cetera Wealth Services and an investment advisor with Cetera Investment Advisers, doing business as Legacy Financial Advisors.

Mr. Jarvis’s BrokerCheck report discloses two investor complaints. The most recent, filed in October 2025, alleges that as a representative of Cetera Wealth Services, he charged excessive advisory fees. The pending complaint alleges damages of $800,000.

An earlier investor complaint, filed in 2002, alleged that as a representative of AXA Advisors, he executed unauthorized mutual fund trades. The complaint reached a settlement of $132,860.

For reference, unauthorized trading may be found to violate FINRA Rule 3260, which describes specific conditions under which brokers like Mr. Jarvis are permitted to make transactions without first consulting the investor. It may also violate FINRA Rule 2010, which stipulates that FINRA-associated persons must “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who engage in unauthorized trading may be held liable for damages and/or subject to disciplinary action. In some cases, they may also be subject to disciplinary action by FINRA, the SEC, or other regulators.

According to the Financial Industry Regulatory Authority, Mike Jarvis holds 34 years of securities industry experience. Based in McKinney, Texas, he has been registered as a broker with Cetera Wealth Services since 2017 and an investment advisor with Cetera Investment Advisers since 2023, doing business as Legacy Financial Advisors. His past registrations include  Cetera Advisor Networks, Girard Securities, AXA Advisors, and the Equitable Life Assurance Society of the United States. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; 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 32 state licenses. (Information current as of November 22, 2025.)

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