Daniel L. Erben (CRD #2994110) Has Customer Dispute and Employment Separation Disclosures on FINRA BrokerCheck
Daniel L. Erben (CRD #2994110) was previously registered as a broker. We reviewed his FINRA BrokerCheck report on March 24, 2026. It reflects one customer dispute and one employment separation disclosure. If you invested with Daniel L. Erben and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
Daniel Erben’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:
On January 8, 2026, a customer alleged Daniel Erben made unauthorized purchases in a brokerage account. The alleged transactions occurred on August 26, 2025, and November 25, 2025. Daniel Erben’s FINRA BrokerCheck report lists the product type as debt-government and the alleged damages as $5,000. The matter is pending.
Employment Separation
Daniel Erben’s FINRA BrokerCheck Report reflects one employment separation after allegations disclosure. A summary appears below:
On February 4, 2026, TD Private Client Wealth LLC discharged Daniel Erben. Daniel Erben’s FINRA BrokerCheck report states the firm reported he violated policies on acceptance and prompt entry of orders and discretionary accounts.
Rule Summary #1: FINRA Rule 3260 (Discretionary Accounts)
FINRA Rule 3260 covers discretionary accounts and requires written approval for discretionary orders. A disclosure involving discretionary accounts can raise questions about whether authority and supervision were handled the right way.
Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)
FINRA Rule 2010 requires high standards of commercial honor and just and equitable principles of trade. Unauthorized trading allegations and order-entry issues can raise concerns under this rule.
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.
Reg BI has four key obligations:
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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.
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Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
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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.
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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, Daniel Erben:
Was previously registered with TD Private Client Wealth LLC.
Has passed the Securities Industry Essentials (SIE) exam. Daniel Erben has also passed Series 7, Series 65, and Series 63.
Was previously registered with firms that include Family Management Securities, LLC and UST Securities Corp.
Kurta Law Can Help
If you have worked with Daniel Erben and you have concerns about his activity, 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 | Security Fraud
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. The 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.