David Segarra is Facing an Investor Dispute

David Segarra (CRD #: 4482059), a broker registered with LPL Financial, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 9, 2024. Keep reading if you have questions. 

Investor Allegations 

On June 3, 2024, investors alleged that David Segarra recommended unsuitable, illiquid investments and breached his fiduciary duty. The investor is seeking $80,000. 

Unsuitable, Illiquid Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Brokers must also consider the investment time horizon and the investor’s liquidity needs – illiquid, long-term investments often do not suit a client’s best interests. 

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

Background Information 

David Segarra has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in 29 states and is a registered investment adviser in Nevada and Texas. 

During his 19 years of experience, David Segarra has registered with the following firms: 

• LPL Financial (CRD #: 6413) 
• Centaurus Financial (CRD #: 30833) 
• Brookstreet Securities Corporation (CRD #: 14667) 
• Great Eastern Securities (CRD #: 2061) 

Kurta Law Can Help 

If you worked with David Segarra and you 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.