Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Crossan (Crossan), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Crossan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $50,000.00 on February 17, 2022.
Claimant alleges that she was sold a series of annuities, where the income was used to fund a whole life insurance policy and that this investment strategy was clearly entered for purposes of commissions. Claimant also alleges that Wells Fargo’s actions constitute a breach of fiduciary duty, obtaining excessive commissions in an unsuitable whole life insurance recommendation which constitutes gross negligence.