David Rhodes Allegedly Recommended Unsuitable Investments

David Rhodes (CRD #: 2620006), a broker registered with Cetera Advisor Networks, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on October 31, 2024. Investors may have also engaged his services through Cetera Investment Advisers. If you want to know more about his alleged conduct as a broker, read on.

Investor Disputes

On August 19, 2024, an investor alleged that David Rhodes made unsuitable investment recommendations. This dispute is pending.

On November 18, 2021, an investor filed a dispute alleging that David Rhodes gave unsuitable recommendations of high-risk alternative investments. The client sought $1.5 million and received a settlement of $250,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe their risk tolerance, tax status, and other characteristics. 

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

David Rhodes has passed the following exams:

• 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 Rhodes is a registered broker in eight states and a registered investment adviser in Texas.

He has also worked for the following firms:

• Cetera Advisor Networks (CRD#:13572)
• Summit Financial Group (CRD#:109485)
• Summit Brokerage Services (CRD#:34643)
• Lincoln Financial Advisors (CRD#:3978)
• The Lincoln National Life Insurance Company (CRD#:2580)
• Princor Financial Services (CRD#:1137)

Kurta Law Can Help

If you worked with David Rhodes 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 that 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.