Jason Scott Pitts (CRD #2150845) Has Customer Complaints and a Financial Disclosure
Jason Scott Pitts (CRD #2150845) has been the subject of disclosure events reported on FINRA’s BrokerCheck system. Based on Jason Scott Pitts’s BrokerCheck record accessed on January 15, 2026, the report reflects four customer disputes and one financial disclosure. If you have worked with Jason Scott Pitts and you have concerns about his activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck report (PDF)
Investor disputes / customer complaints
According to Jason Pitts’s FINRA BrokerCheck report, there are four customer dispute disclosures. Below are two examples from the report.
Jason Pitts FINRA BrokerCheck report reflects that a customer complaint was received on December 15, 2025. The customer alleges that while Jason Pitts was associated with Equitable Advisors, LLC, the registered representative made misrepresentations in connection with a variable universal life (VUL) policy purchased in 2023, and that the policy was not suitable for the customer’s needs. The report lists alleged damages of $5,000 (with a note that the firm determined potential damages are greater than $5,000), and the matter is listed as pending.
Jason Pitts FINRA BrokerCheck report reflects that a customer complaint was received on December 2, 2025. The customer alleges that while Jason Pitts was associated with Cambridge Investment Research, Inc., the financial professional misrepresented an unsuitable variable annuity contract. The report lists alleged damages of $900,000 and states the matter is pending.
BrokerCheck also reflects two additional customer dispute disclosures involving Jason Pitts.
Financial disclosure
Jason Pitts’s FINRA BrokerCheck report also reflects a financial disclosure classified as a “compromise.” The report states that on April 8, 2019, a compromise was reached related to a compensation issue with a prior broker-dealer that Jason Pitts disputes, and that the settlement was reached as a business decision to prevent negative credit reporting. The listed creditor is Voya Financial, with an original amount owed of $4,130, and the report states Jason Pitts paid $2,000 for full and final settlement.
Rule summary #1: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 generally requires broker-dealers and associated persons to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for a customer based on the customer’s investment profile (including factors such as age, financial situation and needs, investment objectives, time horizon, liquidity needs, and risk tolerance).
Rule summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)
FINRA Rule 2010 requires members, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade. FINRA often cites this rule in connection with a wide range of conduct, including allegations of misrepresentations and other unfair sales practices.
Why this matters to investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background information (from BrokerCheck)
Based on his BrokerCheck Report, Jason Pitts reportedly:
- Is currently registered with Wells Fargo Advisors Financial Network, LLC (CRD #11025) and has been registered with that firm since July 17, 2024.
- Works out of Ashburn, Virginia (branch office address listed in the report).
- Has previously been registered with Cambridge Investment Research Advisors, Inc.; Cambridge Investment Research, Inc.; AXA Advisors, LLC; ING Financial Partners, Inc.; and SunTrust Investment Services, Inc.
- Has passed the Series 24 (General Securities Principal), Series 7 (General Securities Representative), SIE, Series 65, and Series 63 examinations.
Kurta Law Can Help
If you have worked with Jason Pitts and you have concerns about your investments, you may have recovery options. You may be entitled to pursue a claim through FINRA arbitration. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Securities Attorney | Stock Broker Fraud