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David Meacham Allegedly Recommended Unsuitable Investments

David Meacham (CRD #:1045678), a broker registered with  Royal Alliance Associates, is involved in an unsuitability dispute, according to his BrokerCheck record.  

According to the allegations filed on November 4, 2021, David Meacham recommended high-risk, high commission, and illiquid investments. The damage amount requested is $137,000— the case is still pending.  

FINRA Rule 2111 

Brokers must consider the factors listed below when recommending investments to investors.:  

  • The investor’s current financial state and tax status 
  • The investor’s financial goals  
  • The investor’s risk tolerance 

According to FINRA Rule 2111, brokers may be liable for investor unsuitability claims if they fail to take the factors listed above into account and recommend investments that are not suitable. A broker must have exercised due diligence and have an adequate reason for believing that an investment will be suitable or beneficial for the investor.  

To prove an unsuitability claim, you must establish that: 

  • A transaction took place between yourself and the broker 
  • You sustained damages (lost money) 
  • The broker was aware of your financial situation 

Make sure you are not being taken advantage of by contacting the securities attorneys at Kurta Law as soon as possible if you believe you lost funds due to bad investment recommendations,  

Previous Investor Disputes 

On August 6, 2019, David Meacham was involved in an investor dispute alleging misrepresentation, breach of fiduciary duty, suitability, breach of contract, failure to supervise, and violations of FINRA rules and the Arizona Securities Act related to REITS investments. The damage amount requested was $1,750,000; the case settled for $103,000.  REITs are illiquid investments that are often unsuitable.  

Background Information 

David Meacham has passed the following exams: 

  • Series 63 – Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 – General Securities Representative Examination 
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination 

David Meacham is a registered broker in 18 states. 

Other than Royal Alliance Associates, David Meacham has also worked with the following firms: 

  • Centaurus Financial (CRD#:30833) 
  • J.P. Turner & Company (CRD#:43177) 
  • Workman Securities Corporation (CRD#:31898) 
  • 1717 Capital Management CompanY (CRD#:4082) 
  • Pruco Securities Corporation (CRD#:5685)

Kurta Law Can Help 

If you have worked with David Meacham and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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.