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Jeff Davis is Facing Allegations of Misappropriation

Jeff Davis (CRD #: 2195835), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 19, 2024. Details concerning this dispute are provided below. 

Investor Dispute

On December 22, 2023, an investor alleged that Jeff Davis facilitated the misappropriation of $2.2 million through various third-party wire transfers. According to the Broker Comment section of the disclosure, one of the transfers went toward a margin maintenance call. 

What is Margin Investing? 

Investing on margin is when an investor opens a margin account and borrows money from a brokerage firm in order to purchase more securities. Using borrowed money is called “leverage” and it increases the risk that the investor will lose money. Margin accounts may come with interest charges, significant broker fees, and the risk of a margin call. These types of investments are often unsuitable. 

Background Information 

Jeff Davis has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 23 states and is a registered investment adviser in Texas. 

During his 31 years of experience, Jeff Davis has registered with six firms. These are the three most recent: 

  • Ameriprise Financial Services (CRD #: 6636) 
  • Morgan Stanley (CRD #: 149777) 
  • Morgan Stanley & Co. Incorporated (CRD #: 8209)

Kurta Law Can Help 

If you have worked with Jeff Davis and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.

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