Last Updated: May 2024 (Rancho Mirage, CA)
David Goldstein Investigation Summary
Here’s what you need to know about Rancho Mirage, CA, stockbroker David Goldstein:
- Name: Mr. B. David Goldstein
- Current Employer: Securities America, Wealthplan Partners (RIA)
- DBA: Wealthplan Partners
- Previous Firms: Western International Securities, United Advisors
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: David Goldstein
- Primary Location: Rancho Mirage, CA
- CRD 1718066
- Can David Goldstein be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $76,273
- Pending Customer Dispute Seeks Damages of $230,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With David Goldstein As Your Stockbroker?
In 3/2024 a customer of Western International Securities filed a FINRA arbitration alleging that David Goldstein made misrepresentations when recommending an investment resulting in damages of $230,000. This case is currently pending.
Six prior customer disputes have been resolved by cash settlements including:
- 2023- A customer was paid $76,273 to resolve allegations that Goldstein misrepresented an investment.
- 2024- A customer was paid $30,000 to settle a FINRA arbitration alleging negligence and misrepresentation.
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability -Regulation Best Interest
Allegations of Broker Misconduct Against David Goldstein
Customers of David Goldstein have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Misrepresentations
- Omissions of material fact
- Negligence
- Unsuitable recommendation to invest in illiquid REIT and Limited Partnership
[LEARN MORE]: See this for more information on REITs and Other Alternative Investments
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]: Investigations involving other Western International Securities brokers
If you have suffered investment losses in an account handled by David Goldstein, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
