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David Russo Allegedly Misrepresented Variable Annuity

Nov 15, 2022 Misrepresentation

David Russo (CRD #: 2805759), a broker registered with Woodbury Financial Services, allegedly misrepresented an annuity, according to his BrokerCheck record, accessed on November 4, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On September 14, 2022, an investor alleged that David Russo misrepresented a variable annuity purchased in 2021. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an external review. Investors can still seek out FINRA arbitration and potentially recover their losses following a denial.

FINRA Rule 2020

The misrepresentation of information related to investments violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise fraudulent tactics to influence the purchase and sale of securities.

Background Information

David Russo has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination

David Russo is a registered broker in 34 states and Puerto Rico. He is also a registered investment adviser in Florida.

He has also worked for the following firms:

  • Questar Asset Management (CRD#:133358)
  • Questar Capital Corporation (CRD#:43100)
  • Woodbury Financial Services (CRD#:421)
  • Oppenheimer & Company (CRD#:249)
  • Prime Charter Limited (CRD#:25668)
  • Bluestone Capital Partners (CRD#:36189)
  • GKN Securities (CRD#:19415)
  • Tuscany Equity Management Corporation (CRD#:20016)
  • Global Strategies Group (CRD#:27414)

Kurta Law Can Help

If you worked with David Russo and you have concerns about your investments, please contact us today at 877-600-0098 or 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.