DID DAVID TURK CAUSE YOU INVESTMENT LOSSES?
David Turk Of Equitable Advisors LLC Has 3 Customer Complaints For Alleged Broker Misconduct
About David Turk of Equitable Advisors LLC?
David Turk (CRD #2688276) has been a registered securities professional since 1995. He is currently employed by Equitable Advisors, LLC, where he has worked since 1996 as a registered broker and an investment adviser since 2003. Over his career, David has been registered with three firms, including Continental Broker-Dealer Corp and The Equitable Life Assurance Society of the United States.
He has passed five industry exams, including the General Securities Principal Examination (Series 24), General Securities Representative Examination (Series 7), and Uniform Investment Adviser Law Examination (Series 65). He is registered with one self-regulatory organization (SRO) and holds licenses in 14 U.S. states and territories. David also owns Turk Financial LLC, a company established for managing payroll activities related to his business.
David Turk Customer Complaints and Reviews
David Turk has three disclosures in his FINRA report, including settled customer disputes and one dismissed complaint. Key details are as follows:
- Customer Dispute 1 (2023):
- Complaint: The client alleged misrepresentations regarding a variable annuity purchased in 2007, which was inadvertently depleted due to an undetected error in withdrawal amounts.
- Damages: $202,624.47 claimed.
- Outcome: Settled in April 2024 for $190,000, fully contributed by David.
- Customer Dispute 2 (2008):
- Complaint: The claimant alleged that fees, expenses, and contingent sales charges were not disclosed during the sale of three variable annuity contracts.
- Damages: $2,351.89 claimed.
- Outcome: Settled for the claimed amount; David did not personally contribute to the settlement.
- Customer Dispute 3 (2019):
- Complaint: The client accused David of misappropriating funds during the transfer of retirement accounts.
- Outcome: The claim was denied by the firm after investigation.
Allegations Against David Turk
David Turk’s FINRA report includes notable allegations involving annuities and account transfers. Details include:
- Misrepresentation in Variable Annuity Sale (2023): The dispute centered on a 2007 annuity that became depleted due to a typographical error. David settled the case by contributing $190,000, emphasizing the lack of intentional wrongdoing.
- Failure to Disclose Fees (2008): The claimant alleged undisclosed fees for annuities, resulting in a settlement equal to the claimed amount. David’s firm resolved the matter without assigning personal liability.
- Misappropriation Allegations (2019): A client alleged fund misappropriation during account transfers. The firm dismissed the claims after finding no evidence of misconduct.
David Turk Red Flags & Your Rights As An Investor
Of course, David Turk did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of David Turk at Equitable Advisors on alert to review carefully the activity and performance of their accounts and question whether David Turk has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Equitable Advisors, LLC also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Equitable Advisors, LLC Due To David Turk
If you have questions about Equitable Advisors, LLC and/or David Turk and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
Rate this Post
Loading...