Russ Cesari: Why Did Northwest Financial Fire LPL Advisor?

Herndon, Virginia financial advisor Russ Cesari (CRD# 2927448) was recently terminated by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he is registered as a broker with LPL Financial, having previously been registered with Northwest Financial Advisors.

Mr. Cesari’s BrokerCheck report discloses his firing from Northwest Financial Advisors. Filed in December 2024, it states that the firm fired him in connection with allegations that he failed to complete timely annual client reviews, failed to align clients’ portfolios with their objectives and risk scores, failed to timely complete continuing education requirements, failed to report “gifts and education given and received with clients and sponsors,” engaged in unauthorized communication with a third party “regarding the potential acquisition of [the] firm,” and accepted trading instructions from individuals without proper authority.

Northwest Financial Advisors’ website includes a profile of Mr. Cesari that describes the services he previously provided at the firm, where he “review[ed] and execute[d] all aspects of financial plans for high net worth clients, focusing on investments, retirement planning and income distribution strategies, taxation and estate conservation.” The profile also describes his background and experience. “Russ began his career in the financial services industry in 1997 as an Investment Advisory Representative,” it states. “Prior to that, he enjoyed a longstanding and accomplished career with IBM Corporation as Branch Manager for the State of Maine, Regional Manager of National Federal Marketing, Director–Health Industry and Director–Education Service for IBM Latin America.”

According to the Financial Industry Regulatory Authority, Russ Cesari holds 27 years of securities industry experience. Based in Herndon, Virginia, he has been registered as a broker with LPL Financial since 2001. His past registrations include Northwest Financial Advisors (Herndon, Virginia; 2013-2025), Northwest Financial Group (Herndon, Virginia; 2008-2025), LPL Financial (Fort Mill, South Carolina; 2001-2013), Northwest Financial LLC (Herndon, Virginia; 2008-2013), and Ascend Financial Services (St. Paul, Minnesota; 1997-2001). His credentials include the passage of seven securities industry qualifying exams: the Municipal Fund Securities Principal Examination, or Series 51; the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 40 state licenses. (Information current as of January 12, 2025.)

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