Last Updated: July 2024 (Bend, Oregon)
David K. Thiele Investigation Summary
Here’s what you need to know about Bend, OR, stockbroker David Kenneth Thiele:
- Name: David Kenneth Thiele
- CRD Number: 6102260
- Current Employer: Osaic Wealth, Inc.
- Primary Location: Bend, OR
- Function: Stockbroker / Financial Advisor
- Previously Registered With: FSC Securities Corporation (08/2016–11/2023), Morgan Stanley (11/2012–08/2016)
- Other Business Activities: Thiele Industries LLC , Kalyx Capital Management, Undefined Gridlines Inc., Catchline Holdings
- Can David Thiele be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? No
- Highest Settlement or Award: $450,000
- Pending Customer Dispute Amount: $325,000
If you’ve sustained damages from Mr. Thiele, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With David K. Thiele as Your Stockbroker?
David Kenneth Thiele has been involved in multiple customer disputes alleging misconduct while employed by FSC Securities Corp., related to unsuitable investment recommendations and failure to supervise.
- Settled Complaint 1: In FINRA Case No. 23-01019, claimants (daughters of a deceased client) alleged that Thiele failed to properly supervise an advisor, resulting in aggressive trading and significant losses in an account. The claim settled for $450,000 on August 9, 2024.
- Settled Complaint 2: In FINRA Case No. 23-03315, a claimant alleged that Thiele sold an unsuitable variable annuity and private placement. The claim settled for $30,000 on May 15, 2024.
- Pending Custome Dispute: In FINRA Case No. 23-02485, filed in September 2023, the claimant alleges that Thiele recommended an unsuitable alternative investment (Direct Investment–DPP & LP Interests) and is seeking damages of $325,000. The case remains pending.
In these allegations, investors accuse Mr. Thiele of failing to ensure that investments were suitable under FINRA Rule 2111 (Suitability) and of failing to exercise proper supervision under FINRA Rule 3110.
See this for more information on REITs and Other Alternative Investments
Allegations of Broker Misconduct Against David Kenneth Thiele
Disclosures show that investors have accused David Thiele of:
- Unsuitable recommendations of alternative investments, variable annuities, and private placements.
- Failure to properly supervise other financial professionals managing customer accounts.
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
Recover Your Investment Losses Now With Rex Securities Law
Our Investigations of other FSC Securities brokers
If you have suffered investment losses in an account handled by David Kenneth Thiele, 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.