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David Todd Allegedly Made Unsuitable Investments

David Todd (CRD #: 1785902), a broker registered with Wells Fargo Clearing Services, allegedly made unsuitable investments for a client, according to his BrokerCheck record, accessed on November 12, 2022. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On August 30, 2022, an investor alleged that David Todd made unsuitable investments starting in or around November 2020. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently fit an investor’s financial goals. Brokers must take into account the information contained in the investor’s profile, including the following client characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

Background Information

David Todd 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 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination
  • Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

David Todd is a registered broker in 27 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • Morgan Stanley Smith Barney (CRD#:149777)
  • Citigroup Global Markets (CRD#:7059)
  • Lehman Brothers (CRD#:7506)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • Royce Park Investments (CRD#:16539)
  • Thomas James Associates (CRD#:15609)

Kurta Law Can Help

If you worked with David Todd 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.