Investor Alleges David Sherwood Engaged in Negligence

David Sherwood (CRD #: 1024893), a broker registered with Greenberg Financial Group, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on May 3, 2023. This is the 12th investor dispute on his record. 

Investor Dispute

On February 22, 2023, an investor filed a dispute alleging that David Sherwood acted negligently by facilitating the client’s investment in GWG L Bonds, which allegedly resulted in losses. The client seeks $72,796.47 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe an investor’s age, tax status, and other characteristics.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What is broker negligence?

Brokers may act in many negligent ways, including recommending unsuitable investments, misrepresenting material facts, or failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration. 

Background Information

David Sherwood has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 57TO – Securities Trader Exam
• SIE – Securities Industry Essentials Examination
• Series 55 – Limited Representative-Equity Trader Exam
• Series 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination
• Series 4 – Registered Options Principal Examination
• Series 24 – General Securities Principal Examination

David Sherwood is a registered broker in seven states and a registered investment adviser in Arizona.

He has also worked for the following firms:

• RBC Dain Rauscher (CRD#:31194)
• Prudential Securities (CRD#:7471)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• E. F. Hutton & Company (CRD#:235)

Kurta Law Can Help

If you worked with David Sherwood 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.