Haselkorn & Thibaut, a nationally renowned investment fraud law firm, has initiated an investigation into Jeffery Paul Sprague (CRD# 2279580), a financial advisor currently registered with Cetera Advisors LLC and Cetera Investment Advisers LLC in Bingham Farms, Michigan. With over 33 years of experience in the securities industry, Mr. Sprague’s professional history and recent investor complaints warrant a closer look for those concerned about the safety of their investments.
Who Is Jeffery Paul Sprague of Bingham Farms, MI?
Table of Contents
Jeffery Paul Sprague is a veteran broker and investment adviser licensed in 13 states and currently working through Cetera Advisors LLC (CRD# 10299) and Cetera Investment Advisers LLC (CRD# 105644) at 30150 Telegraph Rd, Suite 444, Bingham Farms, Michigan. Over a career spanning three decades, he has been associated with seven firms, including a lengthy tenure at First Allied Securities, Inc. His extensive licensing background includes passing prominent securities exams and maintaining good standing with both state and federal regulators.
Professional History
| Registration Dates | Firm | CRD# | Location |
|---|---|---|---|
| 09/2022 – Present | Cetera Advisors LLC | 10299 | Bingham Farms, MI |
| 11/2020 – Present | Cetera Investment Advisers LLC | 105644 | Bingham Farms, MI |
| 01/2002 – 09/2022 | First Allied Securities, Inc. | 32444 | Bingham Farms, MI |
| 07/2012 – 11/2020 | First Allied Advisory Services, Inc. | 137888 | Bingham Farms, MI |
| 04/2010 – 07/2012 | First Allied Securities, Inc. | 32444 | Bingham Farms, MI |
| 04/2000 – 12/2001 | Asset Planning Solutions, Inc. | 46091 | San Diego, CA |
| 11/1992 – 04/2000 | Equity Services, Inc. | 265 | Montpelier, VT |
| 10/1992 – 11/1992 | G. R. Phelps & Co., Inc. | 173 | (Not specified) |
Throughout his career, Mr. Sprague has generally maintained a clean regulatory record, with only a single reported customer complaint. For investors, this may initially appear positive; however, the details and seriousness of the complaint are important considerations.
Red Flags: Recent Customer Complaint & Disclosure
As of the latest reports, there is one significant disclosure involving Jeffery Paul Sprague. The complaint has evolved into a formal arbitration, which typically signals that the client and the firm were unable to resolve the matter outside of a regulatory or legal forum. The details are as follows:
- Type: Customer Dispute – Pending / Arbitration
- Status: Evolved to formal FINRA arbitration
- Date Complaint Received: November 8, 2024
- Status Date: August 15, 2025
- Location of Complaint Activity: First Allied Securities, Inc.
- Product Type: Real Estate Security (Non-traded REIT)
- Alleged Damages: $100,000 (as reported by FINRA BrokerCheck)
- Current Outcome: Pending, no settlement as of report date
Nature of Allegations:
- Client alleges the advisor recommended investments that were unsuitable and involved overconcentration in non-traded real estate investment trusts (REITs)
- Alleged failure to disclose all material facts regarding the investment’s potential risks
This matter remains unresolved and is in the arbitration process, with a scheduled date of August 2025. It is important to note that such investor allegations, particularly regarding unsuitable recommendations and lack of full disclosure, can have significant impacts depending on the arbitration outcome.
Professional Licensing and Qualifications
Jeffery Paul Sprague’s qualifications include passing several major industry exams—Series 7, Series 6, Series 63, Series 65, Series 66, SIE, and Series 99TO—demonstrating a broad and comprehensive knowledge base. He is currently registered to operate in 13 different states and holds three FINRA registrations. His continuous professional development, including a recent compliance-oriented exam in 2023, suggests an ongoing commitment to maintaining industry standards.
Key Takeaways for Investors Working with Jeffery Paul Sprague
- Long, stable career history with reputable firms—particularly in Michigan
- Licensed in multiple states, indicative of a broad client base
- Recent, unresolved customer complaint regarding suitability and disclosure—now in formal FINRA arbitration
- Large dollar amount at stake ($100,000)—investors should be aware of the potential risk exposure
- No adverse resolutions or prior settlements prior to this complaint
While one complaint over a 33-year span is relatively rare, the type and size of the alleged damages merit your attention—especially if you have invested in non-traded REITs or alternative investments through Jeffery Paul Sprague, Cetera Advisors LLC, or Cetera Investment Advisers LLC. If you have concerns about your investments, experienced losses, or suspect unsuitable advice—now is the right time to take action.
What Should Investors Do Next?
Haselkorn & Thibaut (investmentfraudlawyers.com) is actively investigating Jeffery Paul Sprague and similar investor complaints across the country. With over 50 years of combined experience, a 98% success rate, and millions recovered for clients, their team offers comprehensive, professional support. There is no fee if there is no recovery—so your consultation and case review are risk-free.
Call Haselkorn & Thibaut at 1-888-885-7162 for a confidential, no-obligation case evaluation. Their skilled attorneys are well-versed in representing investors wronged by their financial advisors and will help you understand your rights and options. Don’t wait for the resolution of pending arbitrations—if you have lost money or suspect mishandling of your investments, timely action is critical.
For the most current information on Jeffery Paul Sprague’s regulatory record, investors are encouraged to check FINRA BrokerCheck (search by CRD#: 2279580).
Have
