David Mirolli Involved in Yet Another Suitability Dispute
David Mirolli (CRD #: 5116067), a registered broker with Kalos Capital, is involved in his fourth investor dispute, according to his BrokerCheck record, accessed on November 8, 2021. He is also a registered investment advisor with Catalyst Wealth Management.
Pending Disputes
David Mirolli has two pending investor disputes:
- On September 8, 2021, an investor filed a dispute against David Mirolli, alleging he recommended an investment that was not in key with the client’s objectives. The damage amount requested is $70,000 and the case is still pending.
- On August 20, 2020, David Mirolli was also involved in another investor dispute, alleging unsuitable and high-risk investment recommendations. The damage amount requested is $360,570.00.
Settled Disputes
In 2020, David Mirolli settled two investor disputes. Both alleged that he failed to conduct reasonable due diligence and recommended unsuitable investment strategies. The cases were collectively settled for $345,617.
Brokers who recommend investment products must follow FINRA Rule 2111, which addresses investment suitability.
FINRA Rule 2111 requires investment professionals to consider their customers’ financial profiles before recommending trades. The rule states “A member or associated person must have a reasonable basis for believing the recommended transaction involving security will be suitable based on information obtained through diligent inquiry as it pertains specifically towards your customer’s profile.”
FINRA arbitration offers a remedy for investors who have lost money due to broker misconduct. Brokers and brokerage firms may be held liable for your losses. Securities attorneys can help you navigate the FINRA arbitration process.
David Mirolli Background Information
David Mirolli has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He is a registered broker in ten states and is a registered investment advisor in Alabama, Texas, and Georgia.
Other than Kalos Capital and Catalyst Wealth Management, David Mirolli has worked with the following firms:
- Kalos Management (CRD#:133025)
- Triad Advisors (CRD#:25803)
- Peachtree Planning Advisors (CRD#:112787)
- Park Avenue Securities (CRD#:46173)
Kurta Law Can Help
If you have worked with David Mirolli and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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.