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Investor Alleges Failure to Supervise in Dispute with David Frohlichstein

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
December 6, 2022 at 8:45pm

David Frohlichstein (CRD #: 1582362), a broker registered with Ausdal Financial Partners, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on November 29, 2022. Read on if you have questions about his conduct as a broker.

Investor Dispute

On October 10, 2022, David Frohlichstein was named in a dispute alleging failure to supervise. They further alleged that the broker breached their fiduciary duty. The investor seeks $50,000 in this pending dispute.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires firms to establish systems of supervision over their employees in order to detect and prevent violations of securities regulations.

Background Information

David Frohlichstein 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 Frohlichstein is a registered broker in 11 states and a registered investment adviser in Illinois and Texas.

He has also worked for the following firms:

  • Waterstone Financial Group (CRD#:10078)
  • Heritage Capital Management (CRD#:110383)
  • Transamerica Financial Resources (CRD#:3600)

Kurta Law Can Help

If you worked with David Frohlichstein and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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. 

 

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