David Kaiser Subject of Excessive Commission Allegations

David Kaiser (CRD #: 2461995), a broker registered with Cambridge Investment Research, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On February 22, 2024, investors alleged that David Kaiser recommended an investment for the sake of generating high commissions and fees. The investors further alleged that they were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio. 

FINRA Rule 2111 – Excessive Fees 

FINRA Rule 2111 requires brokers to recommend investments that suit their investor’s needs. They must take several factors into consideration, including their investor’s age, risk tolerance, and financial goals. Investments may also be unsuitable because they come with excessive fees, which unfairly take away from investor returns.

Failure to Diversify 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s risk tolerance. A lack of diversification may increase the portfolio’s exposure to risk because it overconcentrates an investor’s portfolio in the same stock or sector. 

Background Information 

David Kaiser has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination on  
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 40 states and D.C. He is a registered investment adviser in Colorado and Texas. 

David Kaiser has registered with six firms: 

• Cambridge Investment Research (CRD #: 39543) 
• Cambridge Investment Research Advisors (CRD #: 134139) 
• Securities America Advisors (CRD #: 110518) 
• Securities America (CRD #: 10205) 
• Financial Network Investment Corporation (CRD #: 13572) 
• Waddell & Reed (CRD #: 866) 

Kurta Law Can Help 

If you have worked with David Kaiser and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.