National investment loss lawyers KlaymanToskes is investigating David Stamper (CRD# 2301862) of Stamper Wealth Management and Summit Brokerage Services, following the filing of a customer complaint alleging damages to the customers’ Summit Brokerage account due to unsuitable investment recommendations related to Real Estate Investment Trust (“REIT”) Investments.
Investors that suffered losses with David Stamper may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or firstname.lastname@example.org. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, David Palmer Stamper was previously registered as an investment advisor with Summit Financial Group and as a broker with Summit Brokerage Services in Cary, NC.
Stamper is reportedly doing business as Stamper Wealth Management and is currently registered as a broker/investment advisor with Cetera Advisor Network in El Segundo, CA.
David Stamper has been hit with a customer complaint alleging damages to the customer’s Summit Brokerage Services account due to unsuitable investment recommendations in Real Estate Investment Trust (REIT) Investments. The complaint was settled in favor of the investors for $27,500.
SEC Regulation Best Interest, a/k/a “Reg BI” establishes a “best interest” standard of conduct for brokers and brokerage firms making recommendations of securities investments and investment strategies to their customers, under the Securities Exchange Act of 1934.
Under Reg BI, investment advisors and their firms have a responsibility to make recommendations with their customer’s best interest in mind, based upon the client’s personal needs and preferences.
Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their advisor did not act in their best interest.
Brokers and financial advisors must consider an investment’s risk and ensure that they do not misrepresent or omit material facts when making investment recommendations. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making unsuitable investment recommendations.
Facts about each investor, such as their financial situation/needs, age, employment status, tax status, investment objectives and experience, risk tolerance, and what other investments they may be holding must be taken into consideration by brokers/financial advisors in order to meet the “reasonable diligence” requirement of FINRA’s suitability rule. These factors help determine the suitability of a particular investment or investment strategy for a particular investor.
KlaymanToskes can help you determine if your investment loss is due to unsuitable investment advice and/or other securities violations. The violations discussed above each provide a basis for liability in a FINRA arbitration claim. Investors can learn more about securities violations by visiting our account activity violations and account related violations pages.
Former and current customers of David Stamper who suffered losses at Stamper Wealth Management, Summit Brokerage Services, or Cetera Advisor Network are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or email@example.com for a free consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.