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Investor Alleges David Chepauskas Recommended Unsuitable Life Insurance Policy

David Chepauskas (CRD #: 2033478), a broker registered with Purshe Kaplan Sterling Investments, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on July 31, 2022. Investors may have also worked with him through Summit Financial. Read on to learn more about David Chepauskas’s conduct as a broker.

Investor Dispute

On June 1, 2022, an investor alleged that David Chepauskas recommended an unsuitable Mass Mutual whole life insurance policy.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles contain information such as investors’ age, risk tolerance, and tax status.

Investors who rely on brokers for investment recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information

David Chepauskas has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

David Chepauskas is a registered broker in 27 states and the District of Columbia and a registered investment adviser in New Jersey.

He has also worked for the following firms:

  • Summit Financial Resources (CRD#:104990)
  • Summit Equities (CRD#:11039)
  • Summit Family Wealth Counseling (CRD#:108053)

Kurta Law Can Help

If you worked with David Chepauskas and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.