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Investor Alleges Donavan Hilsabeck Misrepresented Certificate of Deposit

Jan 6, 2023 Misrepresentation

Donavan Hilsabeck (CRD #: 1503039), a broker registered with Wells Fargo Clearing Services, allegedly misrepresented a certificate of deposit, according to his BrokerCheck record, accessed on December 27, 2022. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

In a dispute filed on October 27, 2022, an investor alleged that Donavan Hilsabeck misrepresented the performance of a structured certificate of deposit that was purchased in 2015 and matured in 2022. The client seeks $220,000 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, and otherwise fraudulent tactics to influence investors’ decisions. This includes the misrepresentation or omission of information related to investments.

What are structured products?

Structured products merge the features of a bond with a derivative component. The performance of that derivative asset determines your returns. The complicated nature of structured products can make them unsuitable for many investors.

Background Information

Donavan Hilsabeck 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

Donavan Hilsabeck is a registered broker in 10 states and a registered investment adviser in Nevada.

He has also worked for the following firms:

  • Wells Fargo Investments (CRD#:10582)
  • Wells Fargo Brokerage Services (CRD#:16100)
  • Wells Fargo Securities (CRD#:17438)
  • Essex National Securities (CRD#:25454)
  • Lehman Brothers (CRD#:7506)
  • Geldermann Securities (CRD#:6731)

Kurta Law Can Help

If you worked with Donavan Hilsabeck 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.