David Estatico Allegedly Misrepresented Life Insurance Policy

David Estatico (CRD #: 1132482), a broker registered with Lincoln Financial Advisors, allegedly misrepresented a variable life insurance policy, according to his BrokerCheck record, accessed on August 28, 2022. If you have questions about his conduct as a broker, keep reading.

Investor Dispute

On July 8, 2022, an investor alleged that David Estatico provided inaccurate information about the client’s ability to withdraw money from a variable life insurance policy purchased in 1984. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still seek out FINRA arbitration and potentially recover their losses after a denial.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s risks, requirements, or other features violates this rule.

Background Information

David Estatico has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

David Estatico is a registered broker in eight states and a registered investment adviser in Pennsylvania.

He has also worked for the following firms:

• The Lincoln National Life Insurance Company (CRD#:2580)
• Princor Financial (CRD#:1137)
• VeraVest Investment Advisors (CRD#:105796)
• VeraVest Investments (CRD#:3960)
• Equico Securities (CRD#:6627)
• The Equitable Life Assurance Society of the United States (CRD#:4039)

Kurta Law Can Help

If you worked with David Estatico and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.