Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has launched a dedicated investigation into Kenneth Joseph Arena (Ken Arena), a financial advisor in Pompano Beach, Florida, currently with Cetera Wealth Services, LLC. Our firm is focused on helping investors who have suffered losses in accounts managed or advised by Ken Arena recover their funds and hold responsible parties accountable.
As former Wall Street defense attorneys with over 95+ years of combined securities law experience, our attorneys bring powerful insider knowledge to every case. We have advocated for clients in hundreds of investor claims, achieving a 98% success rate with more than $520 million involved in securities matters. Recognized in the Top 2% by Martindale-Hubbell (AV Preeminent), Super Lawyers, and with 5.0-star client reviews, our firm stands ready to fight for your recovery.
Kenneth Joseph Arena: Background and Employment History
Table of Contents
| Field | Value |
|---|---|
| Advisor Name | Kenneth Joseph Arena (Ken Arena) |
| CRD Number | 6997 |
| Current Broker-Dealer | Cetera Wealth Services, LLC |
| City, State | Pompano Beach, Florida |
| Other Current Affiliations | Cetera Investment Advisers LLC; Cetera Wealth Partners (DBA) |
| Notable Prior Firms | Newbridge Financial Services Group, Inc.; Newbridge Securities Corporation; Ameriprise-investor-losses/”>Ameriprise-investor-losses/”>Ameriprise Financial Services, Inc.; Wachovia Securities, LLC; First Union Brokerage Services, Inc. |
Ken Arena’s securities industry career spans back to the late 1960s, with a history of affiliations to numerous brokerage firms. His extensive tenure brings significant responsibility to act in clients’ best interests under federal, SEC, and FINRA regulations.
Red Flags and Disclosure History
While regulatory sources such as FINRA and the SEC reflect that, as of the most recent update, there are no formal regulatory actions, suspensions, or criminal proceedings specifically against Kenneth Joseph Arena (CRD #6997), several key red flags and customer complaints have emerged over the years, particularly related to his conduct as a broker and financial advisor.
- Discharged by Prior Employer: Ken Arena was permitted to resign from Ameriprise Financial Services in May 2014 amid an internal review for potential policy violations concerning the suitability of his trading strategies for clients’ portfolios.
- Multiple Customer Disputes: Arena’s history includes several customer complaints and an unresolved FINRA arbitration currently pending. Notably:
- In December 2013, a client at Ameriprise alleged churning (excessive trading) in their equity account between 2007-2013. This type of activity may indicate the broker was seeking commissions at the expense of the client’s interests. The matter was settled in April 2014 for $170,311.
- Past client allegations include misrepresentations, failure to disclose crucial risks, and unsuitability regarding recommendations of REITs and mutual funds.
- Most recently, in March 2026, a pending FINRA arbitration (Case No. 26-00500) alleges:
- Breach of contract
- Breach of fiduciary duty
- Failure to supervise
- Negligence
- Misrepresentations
- Violation of securities laws and Regulation Best Interest
The claim, involving alternative investments, seeks damages of $500,000.
- Highest Known Award or Settlement: $170,311 paid to an Ameriprise client for excessive trading (churning).
Key Allegations Against Ken Arena and Cetera Wealth Services, LLC
- Unsuitable Recommendations – Alleged to have recommended or implemented strategies inconsistent with clients’ financial goals and tolerance for risk, violating FINRA Rule 2111.
- Breach of Fiduciary Duty – Alleged failure to put the client’s best interests ahead of the broker’s own gains.
- Fraud / Misrepresentation – Includes alleged failures to disclose crucial investment risks in violation of FINRA Rule 2020 and Rule 2010.
- Churning – Excessive trading in accounts, often driven by a desire to generate commissions rather than meet client objectives.
- Negligence – Failing to provide the reasonable standard of care expected in managing clients’ investments.
It is important to note that multiple client complaints, FINRA arbitration filings, and sizeable settlements or demands for damages should prompt investors to seek independent review of their own account handling. Even in the absence of regulatory actions, these are serious red flags that may indicate patterns of unsuitable or potentially fraudulent conduct.
Your Next Step: Protect Yourself and Recover Your Losses
Our attorneys have spent decades on the defense side, learning the inner workings of Wall Street firms and broker-dealers. We now dedicate those skills to fighting for individual investors harmed by broker misconduct or negligence, especially in matters involving alternative investments, excessive trading, or dishonest recommendations.
If you worked with Ken Arena of Cetera Wealth Services, LLC in Pompano Beach, FL, and believe you may have suffered losses, we strongly encourage you to:
- Review your statements and correspondence for any unfamiliar trades, unexplained losses, or complex investment products (such as non-traded REITs or alternative investments).
- Visit BrokerCheck and search for “Kenneth Joseph Arena” or CRD “6997” to view the most current regulatory disclosures on his record.
- Contact our firm for a free, confidential consultation at 1-888-885-7162. Our investigations are completely cost-free unless we secure a recovery for you.
- Act promptly – securities claims are often subject to strict time limits.
Why Investors Nationwide-investor-losses/”>Nationwide-investor-losses/”>Nationwide Choose Us
- 98% success rate in recovering funds for investors
- Hundreds of investor claims handled – nationwide experience with all major broker-dealers
- 95+ years of combined securities law expertise
- $520+ million involved in securities loss matters
- Super Lawyers and Martindale-Hubbell AV Preeminent – Top 2% peer-reviewed attorneys
- No recovery, no fee – Pay nothing unless we recover your losses
Investor recovery requires both experience and an aggressive, strategic approach. If you believe you lost money with Ken Arena, or have concerns about your Cetera Wealth Services, LLC account, reach out to our attorneys now at 1-888-885-7162 for your free consultation. Our team is here to review your case, provide answers, and lead the fight for your financial recovery.
Don’t wait for further losses or risk missing key deadlines. Call us today and put our experience, insider knowledge, and proven track record on your side.
