David Narish Allegedly Recommended Unsuitable Investments

David Narish (CRD #: 3005959), a broker registered with Center Street Securities, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on January 25, 2023. Investors may have also engaged his services through Center Street Advisors. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On November 21, 2022, an investor alleged that David Narish gave unsuitable investment recommendations that were not in their best interest. The client seeks $50,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which describes their age, tax status, risk tolerance, and other information.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

David Narish has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

David Narish is a registered broker and a registered investment adviser in six states.

He has also worked for the following firms:

• Brookstone Capital Management (CRD#:141413)
• Cambridge Investment Research Advisors (CRD#:134139)
• Cambridge Investment Research (CRD#:39543)
• MML Investors Services (CRD#:10409)
• Farmers Financial Solutions (CRD#:103863)
• Waddell & Reed (CRD#:866)

Kurta Law Can Help

If you worked with David Narish 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.