San Diego, CA – December 6, 2025 – Dominic I. Myers (CRD# 5107939), a broker registered with Cetera Wealth Services, LLC in San Diego, California, has two customer complaints on his FINRA BrokerCheck record. The complaints include one settled case involving allegations of breach of fiduciary duty related to loans made to another representative, and one pending case alleging unsuitable recommendations involving a non-traded REIT. This article provides factual information from publicly available FINRA records to help investors understand their rights and options for recovering investment losses.
BrokerCheck Snapshot
Name: Dominic I. Myers
CRD #: 5107939
Firm: Cetera Wealth Services, LLC
Location: San Diego, CA
Years in Industry: 19
Number of Disclosures: 2
Customer Complaints Against Dominic I. Myers
According to FINRA BrokerCheck records, Dominic I. Myers has two customer disputes on his record:
Complaint 1: Pending (2025)
Date Filed: October 24, 2025
Date Received: October 27, 2025
Nature of Complaint: Customers allege the investment was not suitable in light of their stated investment objectives and risk tolerance.
Products Involved:
- Non-traded REIT
Alleged Damages: $300,000
Status: Pending
Employing Firm When Activities Occurred: Independent Financial Group, LLC
FINRA Case Number: 25-02329
Firm Statement: The firm notes that claimants are focusing on one investment that, due to COVID-19, has not performed as anticipated. However, the security remains viable and no final determination regarding further distributions has been made. The firm contends that claimed damages are speculative and do not account for dividends paid, other investments, or overall portfolio performance. The firm also states there is no merit to claims that clients were unaware of investment risks, citing numerous signed documents outlining the specific risks and illiquid nature of the investment.
Investors who experience unsuitable recommendations involving non-traded REITs may be entitled to pursue recovery through FINRA arbitration.
Complaint 2: Settled (2017)
Date Filed: December 5, 2016
Date Received: January 18, 2017
Nature of Complaint: Customers alleged breach of fiduciary duty, constructive fraud, unfair business practices, violations of California corporations laws, professional negligence, unsuitability, and conspiracy failures in connection with loans they made to another representative in 2011 and 2012 totaling $850,446.57 to develop investment property. Customers alleged losses on loan amounts and lost investment opportunity over time.
Products Involved:
- Mutual Funds
- Promissory Notes
- Managed Advisory Account
- Cash
Alleged Damages: $3,866,688.59
Status: Settled
Settlement Amount: $275,000
Individual Contribution Amount: $0.00
Disposition Date: April 19, 2017
Employing Firm When Activities Occurred: LPL Financial LLC
FINRA Case Number: 16-03527
Broker Statement: Mr. Myers stated that his involvement in this matter was completely without merit. He had no interactions with the claimants regarding securities transactions and had no knowledge of loans made to the other representative. Therefore, none of the allegations and assertions could be attributable to his actions.
Pattern of Complaints / Risk Factors
While each case is unique, complaints of this type may indicate concerns related to unsuitable investment recommendations, inadequate risk disclosures regarding illiquid investments, or potential breach of fiduciary duty. Investors who purchased non-traded REITs or other illiquid investments should carefully review account statements and seek legal guidance if similar issues occurred in their accounts.
Can Investors Recover Losses?
Investors who were recommended unsuitable or high-risk investments may have legal recourse through FINRA arbitration or securities litigation. Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
If you have concerns about unsuitable recommendations, non-traded REIT losses, or broker misconduct involving Dominic I. Myers or Cetera Wealth Services, LLC, contact Patil Law, P.C. at 800-950-6553 or info@patillaw.com for a free case evaluation.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident. FINRA arbitration is the primary forum for resolving disputes between investors and brokers or brokerage firms.
Related Brokers and Firms
Investors who have concerns about Cetera Wealth Services advisors or other Cetera Financial affiliated firms may wish to review similar allegations at other brokerage firms. Additionally, if your losses involved non-traded REIT investments, unsuitable investment recommendations, or breach of fiduciary duty, our firm has extensive experience handling these types of cases nationwide.
Frequently Asked Questions
Q1: What are the complaints against Dominic I. Myers?
Dominic I. Myers has two customer complaints on his FINRA BrokerCheck record. The first, filed in 2016 and settled in 2017, alleged breach of fiduciary duty and other violations related to loans made to another representative. The case settled for $275,000 with no individual contribution from Mr. Myers, and he maintained he had no involvement with the transactions. The second, filed in October 2025 and currently pending, alleges unsuitable investment recommendations involving a non-traded REIT with alleged damages of $300,000.
Q2: Can investors recover losses involving Cetera Wealth Services, LLC?
Yes. Investors who suffered losses due to broker misconduct, unsuitable recommendations, or inadequate risk disclosures at Cetera Wealth Services, LLC may be entitled to recover damages through FINRA arbitration. Securities laws protect investors from unsuitable investments, misrepresentations, and breaches of fiduciary duty. An experienced securities attorney can evaluate your claim and explain your recovery options.
Q3: What is FINRA arbitration?
FINRA arbitration is a dispute resolution process administered by the Financial Industry Regulatory Authority. It is designed to resolve investment-related disputes between investors and brokers or brokerage firms. The process is typically faster and less expensive than going to court. A panel of arbitrators reviews evidence and renders a binding decision. Most cases settle before reaching a final hearing.
Q4: What does “unsuitable investment” mean?
An unsuitable investment is one that does not align with an investor’s financial situation, investment objectives, risk tolerance, or time horizon. Brokers have a legal obligation to recommend investments that are suitable for their clients. Recommending high-risk or illiquid investments like non-traded REITs to conservative investors, or failing to adequately disclose risks and liquidity concerns, may constitute unsuitable recommendations.
Q5: How do I look up a broker on BrokerCheck?
Visit FINRA’s BrokerCheck website at brokercheck.finra.org. You can search by the broker’s name or CRD number. The report will display the broker’s employment history, professional qualifications, registrations, and any disclosure events such as customer complaints, regulatory actions, or criminal history. Reviewing a broker’s BrokerCheck record is an essential step before investing.
Q6: What should I do if I suspect broker misconduct?
If you suspect misconduct, take the following steps: (1) Document all account statements, trade confirmations, and communications with your broker; (2) File a written complaint with the brokerage firm’s compliance department; (3) Report the issue to FINRA or your state securities regulator; (4) Consult with a securities attorney who can evaluate whether you have grounds for a FINRA arbitration claim. Time limits apply, so it is important to act promptly.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Contact Patil Law, P.C.
If you lost money investing with Dominic I. Myers or any broker at Cetera Wealth Services, LLC, contact Patil Law, P.C. today for a free, no-obligation consultation. Our experienced securities attorneys will review your case and explain your legal options.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
We represent investors nationwide on a contingency fee basis. You pay nothing unless we recover money for you.
Disclaimer
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
