May 2018- Centerville, OH
According to FINRA records, David Joseph Schmerber, a stockbroker who was formerly employed by LPL Financial Services, disclose the recent settlement of a customer dispute.
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.
In FINRA Case 17-0659 a customer of his prior employer LPL Financial alleged that between 2008-9/2016, Schmerber invested their accounts in various complex, volatile and speculative securities which were unsuitable for their investment objectives. That case was settled in 11/2017 for $395,000.
Schmerber was employed by LPL Financial Services from 3/19997-3/2017. He is currently employed by Cetera Advisors in Centerville, OH.
If you have questions about an account handled by David J. Schmerber, call for a no charge consultation to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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