Last Updated: March 2025 | Webster, SD
Spencer R. Huggett Investigation Summary
Here’s what you need to know about Webster, SD, stockbroker Spencer R. Huggett:
- Name: Mr. Spencer Reed Huggett
- Current Employer: Cetera Investment Advisers LLC
- Prior Employers:
- Cetera Advisor Networks LLC (Webster, SD) (05/2022 – Present)
- LPL Financial LLC (Webster, SD) (11/2017 – 06/2022)
- Investment Centers of America, Inc. (Sisseton, SD) (10/2011 – 11/2017)
- H. Beck, Inc. (Webster, SD) (02/2011 – 10/2011)
- QA3 Financial LLC (Webster, SD) (07/2008 – 02/2011)
- DBA: Huggett Financial
- Function: Stockbroker / Financial Advisor
- Aliases: Spencer Huggett
- Primary Location: Webster, SD
- CRD #: 4538364
- Can Spencer Huggett be sued in FINRA arbitration? Yes
- Sanctioned by Securities Regulators? Yes
- Discharged by a Prior Employer : Yes
If you’ve sustained damages from Mr. Huggett, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Spencer Huggett As Your Stockbroker?
Spencer Huggett has been sanctioned by FINRA and the South Dakota Division of Securities. Filing Date: September 9, 2024 (FINRA Sanction)
- Case Number: FINRA Case No. 2022075290601
- Alleged Misconduct:
- Falsified electronic signatures on client account forms (two of the clients were seniors). Huggett falsely attested to the firm that he had not signed another person’s signature on a document.
- Misrepresented compliance responses to his firm
- Fine: $5,000
- South Dakota Securities Division:
- Suspension: 2 months (October 7, 2024 – December 6, 2024)
- Used his own email in place of clients’ emails on firm records
Allegations of Broker Misconduct Against Spencer Huggett
Customers and regulators have alleged the following misconduct by Spencer Huggett:
- Falsification of Customer Signatures – FINRA found that Huggett electronically signed the names of 13 clients on 29 separate documents, including new account applications and move money forms, violating FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade).
- Maintaining Inaccurate Books and Records – Huggett used his personal email address in place of clients’ official contact information, violating FINRA Rule 4511 (Recordkeeping Requirements).
- Employment Termination Due to Misconduct – Huggett was discharged from LPL Financial LLC on May 26, 2022, for electronically signing account documents on behalf of clients without firm approval.
These violations fall under FINRA Rule 2010, FINRA Rule 4511, and SEC Rule 17a-3, which require brokers to maintain accurate and truthful financial records and prohibit fraudulent or unethical behavior.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of Cetera Financial Brokers-Lawsuits, Arbitrations & Disputes
Investigation of LPL Financial and LPL Brokers-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by Spencer Huggett, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.