Last Updated: January 2024 (La Mesa, CA )
David Taddeo Investigation Summary
Here’s what you need to know about La Mesa, CA, stockbroker David Taddeo:
- Name: Mr. David John Taddeo
- Current Employer: LPL Financial
- DBA: Summit Wealth Solutions, Summit Financial
- Previous Firms: Financial Network Investment Corp.
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: David Taddeo
- Primary Location: La Mesa, CA
- CRD 1163829
- Can David Taddeo be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $325,000
- Pending Customer Dispute Seeks Damages of $124,167
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With David Taddeo As Your Stockbroker?
David Taddeo discloses four settlements of customer disputes:
- 2020- $249,624 paid to resolve allegations that variable annuity benefits were presented in error.
- 2020- $325,000 settlement. Customer alleged that terms of a variable annuity were misrepresented.
- 2020-$289,625 settlement of claims that terms of variable annuity were misrepresented.
- 2004- $115,000 settlement of customer dispute that Taddeo caused and/or contributed to delays in terminating profit sharing plan in late 2000 resulting in market losses.
In 12/2023 a customer of LPL Financial made a claim for damages of $124,167 alleging that Taddeo recommended an unsuitable private securities transaction in a private placement without firm approval (selling away).
Allegations of Broker Misconduct Against David Taddeo
Customers of David Taddeo have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to enter into a private securities transaction not approved by LPL Financial
- Misrepresented benefits of variable annuities
- Delay in closing down profit sharing plan caused market losses
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
Investigation of LPL Financial and LPL Brokers
If you have suffered investment losses in an account handled by David Taddeo, 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.
