- Free Investigation Review — Avantax Cetera Brokerage, Retirement & Advisory Accounts
Issues With Your Avantax Cetera Brokerage, Retirement or Advisory Account? You May Have Legal Options.
Our firm is investigating Avantax Cetera Investor Services and Avantax Asset Management for potentially underpaying clients on uninvested cash balances between 2022 and 2025 — while the Federal Reserve raised rates to a 20-year high. If you have concerns about your Avantax brokerage, retirement or advisory account, a free, confidential review is available.
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No fee for evaluation of your potential claims as part of the class action case investigation
Confidential Review
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Takes less than 2 minutes | No commitment required
Did Avantax Cetera Pay You Below-Market Interest on Your Cash Sweep Account?
When you hold cash in an Avantax Cetera brokerage, retirement or investment advisory account — money waiting to be invested, proceeds from a sale, or a dividend payment — Avantax Ceterea may automatically transfer that cash into what is called the Bank Deposit Sweep Program. Your money is likely then deposited at one or more affiliated program banks, and you earn interest on that deposit.
The problem is what happened to the interest rate between 2022 and 2025. When the Federal Reserve raised its benchmark interest rate from near zero to over 5% — the fastest rate-hiking cycle in four decades — the rate Avantax Cetera paid its clients on swept cash balances appears to have barely moved. Meanwhile, Avantax Cetera and affiliated program banks earned significantly higher returns on those same deposits, keeping the difference as profit.
Why This May Be Unlawful Conduct
Our firm is investigating whether Avantax Cetera may have financially harmed their clients by retaining unlawfully excessive spread revenue on their clients’ cash deposits and holdings — and whether their account agreements and program disclosures committed the firm to rate-setting practices that were later abandoned without client notification.
Similar class action lawsuits have been filed against other major brokerages and banks challenging similar types of cash sweep practices.
This investigation is ongoing. No lawsuit has been filed by this firm and no court has found wrongdoing.
You May Be Eligible If:
- You held a brokerage account through Avantax Investment Services — before or after the November 2023 Cetera acquisition
- You held an investment advisory account through Avantax Planning Partners, Inc. (the CPA-affiliated RIA model) or Cetera Investment Advisers LLC
- Your Avantax Cetera account held uninvested cash at any point between 2022 and 2025
- You held a brokerage or retirement account with Cetera
- Your cash was automatically swept into a bank deposit program at below-market interest rates
- You received interest on those deposits but believe the rate was significantly below prevailing market rates
FREQUENTLY ASKED QUESTIONS
Common Questions About the Investigation
What is the Avantax Cetera Bank Deposit Sweep Program?
Avantax Cetera may automatically transfer uninvested cash in your brokerage, retirement or advisory account into one or more affiliated program banks, where it earns interest. Avantax Cetera acts as a middleman — directing your cash to the bank and receiving fees from the program. The bank earns a substantially higher return on those deposits than it pays you. The difference is revenue for Avantax Cetera and the program banks.
I was an Avantax client before Cetera acquired Avantax in 2023. Am I still covered?
Yes. The investigation covers accounts held through Avantax Investment Services and Avantax Planning Partners throughout the relevant period.
Do I need to still be an Avantax or Cetera client to participate?
No. Former clients who held accounts during the relevant period (generally 2022–2025) may also be eligible to participate. If you left Avantax Cetera within the last few years and held an account during that period, you may retain standing to participate in the investigation.
Will this cost me anything?
There is no cost or obligation for an initial consultation or to submit a case review form as part of the class action case investigation.
Is there a deadline to submit a claim?
Yes, potential claims related to rate practices may have begun in 2022 so we encourage you to submit your information as soon as possible so we can evaluate whether your claim is timely.
What happens after I submit the form?
A member of our team will review your information and contact you — typically within 1–2 business days — to discuss whether your situation may qualify. There is no obligation to proceed, and your information will be kept strictly confidential.
Has Avantax or Cetera been found to have done anything wrong?
This investigation is ongoing. No court has found that Avantax, Cetera Financial Group, Avantax Investment Services, Avantax Planning Partners, or Cetera Investment Advisers has engaged in any wrongdoing. Submitting a form does not mean a lawsuit will be filed.
About Manfred, APC
Manfred, APC is a boutique plaintiff-side complex litigation firm representing individuals, investors, and policyholders in complex financial disputes. With over 20 years’ experience, Manfred, APC is a trusted and reliable firm dedicated to combatting unlawful financial and investment practices.
Manfred P. Muecke is licensed to practice law in California (State Bar No. 222893) and Oregon (State Bar No. 257566). Submitting a claim form does not create an attorney-client relationship.
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Ready to Find Out If You Have a Claim?
Fill out our free, confidential case review form. Our team will contact you within 1–2 business days to discuss your situation — with no obligation and no cost to you.
These investigations are ongoing; no lawsuit has been filed by this firm and no court has found that any financial institution named on this page, or any affiliated entity, has engaged in any wrongdoing.
Manfred, APC | Manfred P. Muecke | CA State Bar No. 222893 | OR State Bar No. 257566
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