Haselkorn & Thibaut Opens Investigation into Stephen Thomas Kerutis of Cetera Advisors LLC in Loudon, TN

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If you are an investor with Stephen Thomas Kerutis at Cetera Advisors LLC in Loudon, Tennessee, this research report will help you understand his background, investor complaints, and your potential next steps. Haselkorn & Thibaut (investmentfraudlawyers.com), a national investment fraud law firm with more than 50 years of experience, a 98% success rate, and millions recovered for clients (on a “No Recovery, No Fee” basis), has opened an independent investigation into investor claims involving Stephen T. Kerutis (CRD# 2345517) at Cetera Advisors LLC.

Who is Stephen Thomas Kerutis?

Name: Stephen Thomas Kerutis
CRD Number: 2345517
Current Brokerage: Cetera Advisors LLC (since November 2023)
Investment Adviser Affiliation: Cetera Investment Advisers LLC
Office Location: Loudon, TN
Licenses: Series 24, 7, 63, 66, SIE
Registered Representative & Investment Adviser Representative

Summary of Professional Background

Stephen Kerutis entered the financial services sector in the early 1990s. His extensive career includes roles at several major firms prior to joining Cetera Advisors LLC. Below is a summary of his employment history:

Firm	Role	Dates
Cetera Advisors LLC	Broker	11/2023 – Present
Cetera Investment Advisers LLC	Investment Adviser	03/2024 – Present
LPL Financial LLC	Broker & Adviser	04/2021 – 11/2023
Truist Advisory Services, Inc.	Broker & Adviser	02/2021 – 04/2021
Truist Investment Services, Inc.	Broker & Adviser	02/2021 – 04/2021
BB&T Securities, LLC	Broker & Adviser	01/2018 – 02/2021
BB&T Investment Services, Inc.	Broker & Adviser	05/2016 – 01/2018
Wells Fargo Advisors Financial Network, LLC	Broker	07/2009 – 06/2015
Edward Jones	Broker	11/1993 – 07/2009

Complaints and Disclosures Involving Stephen Kerutis

Understanding the history and nature of complaints is central to protecting your investments. Below are all known investor complaints and regulatory disclosures as of October 2025:

- Pending FINRA Arbitration (Case No. 25-01603):
  Filed: August 2025 in Nashville, TN
  Allegations: Unsuitable recommendations regarding certificate of deposit (CD) investments during Mr. Kerutis’s time at Truist Investment Services, Inc.
  Damages: Amount not yet specified.
  Key Note: This case is still pending before FINRA and no determination has been made at this time.

- Settled Customer Complaint – LPL Financial LLC:
  Received: July 2023
  Allegations:
  - Advisor accepted $500 in cash from client.
  - Misrepresentation involving market-linked CDs.
  - Forgery of customer signature on documentation.
  Resolution: Settled in November 2023 for $93,110 (not an admission of wrongdoing).

Past FINRA Arbitration – Edward Jones (Case No. 09-04011):
Filed: July 2009
Allegations:
- Breach of contract and warranties
- Misrepresentation
- Breach of fiduciary duty
- Failure to supervise, involving mutual fund investments
Resolution: Settled October 2010 for $65,000.

Types of Allegations Listed

Unsuitable Recommendations – Claims that investments proposed were not appropriate for the customer’s profile.
Misrepresentations/Omissions – Allegations of failing to fully disclose risks or features of investment products, particularly market-linked CDs.
Forgery Allegations – One complaint alleged documents were signed without the customer’s consent.
Breach of Fiduciary Duty – Claims of failing to put the client’s interests first.

What Should Investors Know about Suitability and Broker Obligations?

Every broker has a responsibility—under both FINRA Rule 2111 (Suitability) and SEC Regulation Best Interest—to ensure recommendations align with a client’s specific goals, risk tolerance, and overall investment profile. Allegations of unsuitable investments or misrepresentations may signal a violation of these standards.

It is essential to remember:

If you believe you have sustained losses due to unsuitable investments or improper conduct by Stephen Kerutis while at Cetera Advisors LLC or any prior broker-dealer, legal options are available to you—often with no up-front cost.

How to Check Your Advisor: Stephen Kerutis’ Regulatory Records

Investors should regularly verify the regulatory record of their brokers. Check for updates on FINRA BrokerCheck using Stephen Thomas Kerutis’ name or CRD# 2345517.
State regulatory agencies and the SEC website are also valuable resources for monitoring professional conduct and any recent developments.

What To Do If You Have Concerns or Experience Losses

If you are a current or former client of Stephen Kerutis in Loudon, TN, and have questions about how your investments were handled—or have suffered losses you believe may be due to unsuitable recommendations, misrepresentations, or other broker misconduct—it is your right to seek answers and learn about your rights.

The consultation process is fast, confidential, and free of charge.
Haselkorn & Thibaut handles cases nationwide on a contingency basis—no recovery, no fee.

The Haselkorn & Thibaut Advantage

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Millions recovered for investors.
98% success rate.
Zero upfront fees and free case evaluation.

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Disclaimer: The information contained in any post on this website is derived from publicly available sources and is not guaranteed as to accuracy and often involves allegations which may or may not be proven at some point in the future.  All posts are believed to be accurate as of the time of original posting, but the accuracy and details are subject to and expected to change over time and which may contain opinions of the author at the time posted. 

Law Firm Investigates Cetera Advisors’ Stephen Kerutis Over Investor Complaints