David Crossan Facing Unsuitability Claims for Annuity Investments
David Crossan (CRD # 2537752), a broker and investment adviser registered with LPL Financial LLC, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 30, 2022. The details are provided below.
On February 17, 2022, an investor alleged David Crossan sold her a series of annuities. The income from the annuities allegedly funded a whole life insurance policy. The investor alleged that this unsuitable investment strategy was clearly engineered for the purposes of commissions. The investor is seeking $50,000; the dispute is pending.
FINRA Rule 2111 requires brokers to recommend investment strategies that suit their investor’s needs. Brokers are not allowed to recommend strategies simply for the sake of their own commissions.
David Crossan has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 10 – General Securities Sales Supervisor – General Module Examination
- Series 9 – General Securities Sales Supervisor – Options Module Examination
- Series 4 – Registered Options Principal Examination
He is a registered broker in 20 states and is a registered investment adviser in New Jersey and Texas.
David Crossan has worked for the following firms:
- LPL Financial LLC (CRD 6413)
- Wells Fargo Clearing Services, LLC (CRD 19616)
- PNC Investments (CRD 129052)
- Quick & Reilly, Inc. (CRD 11217)
Kurta Law Can Help
If you worked with David Crossan and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors recovering their investment losses from stockbrokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors. We work on a contingency basis, which means that the firm only earns a fee if our securities attorneys recover money on your behalf. Reach out and we can tell you what steps to take to restore your lost funds.