Investor Alleges David Wachter Misrepresented Fixed Annuity

David Wachter (CRD #: 5734478), a broker registered with MML Investor Services, allegedly misrepresented fixed annuity, according to his BrokerCheck record, accessed on August 27, 2022. If you want to know more about his conduct as a broker, keep reading.

Investor Dispute

On July 13, 2022, an investor alleged that David Wachter misrepresented a fixed annuity purchased on or around July 6, 2021. This dispute was denied by the firm.

However, investors should know that firms don’t need to allow an external review before denying a dispute. Investors can still pursue FINRA arbitration following a denial and potentially recover their losses.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of fraudulent practices, like manipulation or deception, in relation to the purchase or sale of securities. The misrepresentation of information, such as the investments’ requirements, risks, or returns, violates this rule.

FINRA Rule 2010

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

Background Information

David Wachter 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
• Series 24 – General Securities Principal Examination

David Wachter is a registered broker in nine states and a registered investment adviser in North Carolina.

He previously worked for MSI Financial Services (CRD#:14251).

Kurta Law Can Help

If you worked with David Wachter 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.