David Lentz Investigation
August 2022-Kernersville, North Carolina
The FINRA records of David W. Lentz, a former Kestra Investment Services broker and owner of Thorium Wealth Management disclose a pending customer dispute seeking millions in damages.
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.
A pending suit disclosed on the FINRA records of Lentz was filed by a former customer and seeks damages from Lentz’s current employer, Kestra Investment Services, as well as prior employers Prospera Financial and Ameriprise Financial. The customer makes numerous allegations of wrongdoing, including, mismanagement, unsuitable recommendations, forged documents and churning. Damages are stated as $2 million by one source and $1.3 million by another. Suit is filed in US District Court, Wester Section of Tennessee.
Lentz was with Kestra Financial from 6/2017-10/2020, with Prospera Financial Services 6/2013-6/2017 and Ameriprise Financial 7/2003-9/2007. Lentz was ‘permitted to resign’ by Ameriprise while he was under review for signature discrepancies.
Lentz discloses that in 10/2019 he agreed to make a lump sum payment of $6337 to resolve a debt of $9,748 owed to Discover Bank.
If you have losses in an account handled by David W. Lentz call to learn how you may be entitled to collect damages through FINRA arbitration.
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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