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David Smith Allegedly Failed to Disclose Information to Client

David Smith (CRD #: 5349530), a broker registered with Pruco Securities, allegedly omitted information, according to his BrokerCheck record, accessed on July 8, 2022. If you have questions about David Smith’s conduct as a broker, keep reading.

Investor Dispute

On March 28, 2022, an investor alleged that David Smith failed to disclose the replacement of his policy. The broker comment identifies this policy as a variable universal life insurance policy. This complaint was denied by the firm.

However, investors should be aware that firms don’t need to allow a third-party review before denying a dispute. Investors may be able to recoup their losses following a denial by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other unethical tactics to influence investors’ decisions. This includes misrepresenting or omitting facts related to investments, such as their terms, fees, and potential returns.

Background Information

David Smith 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
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

David Smith is a registered broker in 21 states. He is also a registered investment adviser in California, Georgia, Michigan, Pennsylvania, and Texas.

He has also worked for Allstate Financial Services (CRD#:18272) and Northwestern Mutual Investment Services (CRD#:2881).

Kurta Law Can Help

If you worked with David Smith 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.