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David Beam Involved in a Dispute Regarding a Variable Annuity

David Beam (CRD #: 2765724), a former broker and investment adviser registered with Lincoln Financial Securities Corporation, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on September 20, 2021. This is his fourth BrokerCheck disclosure. Investors who have questions about David Beam’s conduct as a broker should keep reading.

On July 16, 2021, an investor alleged that David Beam recommended an unsuitable variable annuity. Variable annuities are complex investments and often do not work to the investor’s advantage. The firm denied the dispute, but denials simply indicate that the firm denied their representative engaged in misconduct. Investors can still pursue arbitration and recover losses following a denial.

Variable Universal Life Insurance Dispute

There is another dispute involving a variable investment on David Beam’s record. On June 4, 2004, an investor alleged that David Beam recommended an unsuitable variable universal life policy. VULs are often unsuitable because of their high fees and increased risk for loss. Investors are often attracted to VULs because of their potential to earn higher returns than the average life insurance policy. But this approach can backfire if the market value of the VUL’s underlying investments declines. The dispute settled for $17,000.

David Beam Background Information

David Beam has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 6 Investment Company Products/ Variable Contracts Representative Examination

David Beam has registered with Lincoln Financial Securities Corporation (CRD #: 3870) and Jefferson-Pilot Investor Services (CRD #: 5178).

Kurta Law Can Help

If you worked with David Beam and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email