Kasey Davis Allegedly Recommended a High-Risk Unsuitable Investment

Kasey Davis (CRD #: 2353615), a broker registered with Centaurus Financial, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on June 10, 2024. Investors may also have engaged her services via TBG Wealth Management. Details concerning this dispute are provided below. 

Investor Allegations 

On May 3, 2024, investors alleged that Kasey Davis recommended an unsuitable high-risk, illiquid investment. The investor further alleged she breached her fiduciary duty. The investor is seeking $50,000. 

FINRA Rule 2111 – Unsuitable, Illiquid Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Brokers must also consider the investment time horizon and the investor’s liquidity needs – illiquid, long-term investments often do not suit a client’s best interests. 

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Kasey Davis has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• Series 65 Uniform Investment Adviser 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 Representative Examination 

He is a registered broker in 12 states and is a registered investment adviser in eight states. 

During his 21 years of experience, Kasey Davis registered with four firms: 

• Centaurus Financial (CRD #: 30833) 
• Signal Securities (CRD #: 15916) 
• Mutual Service Corporation (CRD #: 4806) 
• SunAmerica Securities (CRD #: 20068) 

Kurta Law Can Help 

If you have worked with Kasey Davis and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.