Brian Damasiewicz (CRD #5529020) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Brian Damasiewicz (CRD #5529020) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 23, 2026. It reflects one customer dispute. If you invested with Brian Damasiewicz and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Brian Damasiewicz’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 23, 2026, customers alleged Brian Damasiewicz failed to reassess the suitability of their mutual fund portfolio as their financial circumstances changed over time. The customers estimated damages in excess of $10,000 across two accounts. Brian Damasiewicz’s FINRA BrokerCheck Report lists the product as a mutual fund. Northwestern Mutual Investment Services, LLC denied the complaint on March 25, 2026. The broker statement says the firm reviewed the allegations, found no evidence to support the claims, and stated the recommendations were suitable and made in the clients’ best interest.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation. It also requires a broker to match the recommendation to the customer’s investment profile. A dispute about whether mutual fund holdings still fit changing financial circumstances can raise questions under this rule.

Rule Summary #2: FINRA Rule 2090 (Know Your Customer)

FINRA Rule 2090 requires firms to use reasonable diligence to know the essential facts about each customer and each account. When a complaint says the broker did not reassess a portfolio as circumstances changed, that can raise questions about whether updated customer facts were understood and maintained.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Brian Damasiewicz:

Is currently registered with Northwestern Mutual Investment Services, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Brian Damasiewicz has also passed Series 6 and Series 63.

Has no prior securities firm registrations listed on his current BrokerCheck report.

Kurta Law Can Help

If you have worked with Brian Damasiewicz and you have concerns about your investments, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.