Robert C. David Jr. (CRD #5211223, Farmington, Michigan) was fined $15,000 and suspended from association with any FINRA member in all capacities for 20 months based on allegations of falsifying client account information so he could circumvent Morgan Stanley’s internal procedures and sell clients non-investment grade, fixed-income securities. The findings state that David increased the net worth and liquid net worth of customers and changed the customer’s risk tolerance so they would qualify to purchase these high-risk investments. It was also found that David overconcentrated clients in these non-investment grade, fixed-income securities. At the time of his suspension, David was registered as an Investment Advisory Representative with Advisory Services Network, LLC out of Atlanta, GA. The suspension is in effect from April 18, 2022, through December 17, 2023. (FINRA Case #2019062180701).
If you lost money on investments with Robert C. David Jr., we would like to discuss the possibility of you retaining our firm to represent you in an arbitration action concerning this conduct. Please contact The Schwartz Law Firm online to arrange a no-obligation consultation. Alternatively, call 866-618-0545 to immediately speak to a member of our team or email Matthew Schwartz at [email protected].