Investor Alleges David Giegerich Recommended Unsuitable Investments

David Giegerich (CRD #: 2795115), a broker registered with LPL Financial, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on September 5, 2022. If you want to know more about his conduct as a broker, keep reading.

Investor Dispute

On June 14, 2022, an investor alleged that David Giegerich recommended unsuitable investments. The client further alleged that he also made misrepresentations, acted negligently, breached his contract, and committed other violations involving suitability.

The client seeks $100,001 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their age, risk tolerance, and tax status when making recommendations.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deception, manipulation, and other fraudulent tactics to influence investors’ decisions. The misrepresentation of material facts concerning investments violates this rule.

What is broker negligence?

Brokers may act in many negligent ways, including by recommending unsuitable investments, executing unauthorized trades, or misrepresenting investments. Investors who believe their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration.

Tax Liens

From 2018-2021, David Giegerich was subject to a total of $114,560.5 in tax liens.

Background Information

David Giegerich has passed the following exams:

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

He has also worked for the following firms:

• LPL Financial (CRD#:6413)
• First Allied Securities (CRD#:32444)
• Genworth Financial Securities (CRD#:10358)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• Prudential Investment Management Services (CRD#:18353)
• Copeland Equities (CRD#:7447)
• 1717 Capital Management Company (CRD#:4082)

Kurta Law Can Help

If you worked with David Giegerich 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.