DAI Securities

Kurta Law is investigating investment recommendations by DAI Securities (CRD#: 36673) brokers. DAI Securities is a brokerage firm headquartered in Atlanta, Georgia. The firm is affiliated with investment advisory firm DAI Wealth.

DAI Securities has also operated as Lewis Financial Group.

Fees and Conflicts of Interest

Investors should review the fees and conflicts of interest DAI Securities discloses in its Customer Relationship Summary (Form CRS):

• Investors will pay commissions on each transaction, or another transaction-based fee. Commissions range from 1-6% of your purchase amount, and vary depending on the product involved.
• Alternative investments do not charge commissions when you sell them, and these commissions are disclosed in their offering documents.
• If you sell exchange-traded products held in a Hilltop Securities account (DAI Securities’ clearing firm), you will also pay commissions on the sale.
• Some investments charge ongoing commissions, generally for the time you hold the investment. For example, mutual funds charge 12b-1 fees.
• Issuers or sponsors of investments such as variable annuities and mutual funds typically pay DAI Securities a commission when you purchase the investment. This commission reduces the amount of your mutual fund investment.
• DAI Securities receives commissions on variable annuities from the issuer, either in the form of mortality and expense charges, surrender charges, and/or through a reduction in your annuity’s appreciation.
• DAI Securities receives reimbursements from issuers of securities for the firm’s due diligence costs. This incentivizes the firm to recommend investments that generate these reimbursements.
• The firm also keeps revenue sharing agreements and other third-party compensation agreements that incentivize it to recommend some investments over others.

Broker-Dealer Services

DAI Securities offers the following investments in addition to stocks and bonds. Some of these investments feature substantial risks and may be unsuitable for some investors.

• Alternative investments
• Corporate equity and debt securities
• U.S. government securities
• Mutual funds
• Variable life insurance
• Variable annuities
• Delaware statutory trusts (DSTs) and other tax-deferral investments
• Limited partnerships
• Private placements, including direct participation programs (DPPs)
• Exchange-traded products (ETPs)

Regulatory Actions

Investors can review DAI Securities’ history of regulatory actions disclosed on its detailed BrokerCheck page.

FINRA Fine and Restitution

On April 10, 2024, FINRA filed a Letter of Acceptance, Waiver & Consent (AWC) alleging that DAI Securities negligently failed to inform four investors in a limited partnership offering that the issuer failed to make timely filings with the Securities and Exchange Commission.

FINRA censured the firm, fined it $50,000, and paid partial restitution of $25,500. You can access the full AWC here.

Brokers with Misconduct Allegations on Their Records

Kurta Law is aware of the following brokers currently or formerly associated with DAI Securities who have allegations of misconduct on their records. Investors who have concerns about their brokers should seek out a securities attorney.

• Connor Seedall: https://www.kurtalawfirm.com/blog/connor-seedall/ 
• Joseph Michaletz: https://www.kurtalawfirm.com/blog/joseph-michaletz/ 

Kurta Law Can Help

Investors who lost money working with a DAI Securities broker or advisor should reach out to an investment fraud lawyer for help. Our attorneys offer free case evaluations and do not charge a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.