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Former Cetera Financial Advisor, David Rockwell, Has Two Pending Customer Complaints Disclosed On His CRD Alleging Sales Practice Violations

David Rockwell (CRD # 4236377) was a Financial Advisor at Cetera Advisor Networks in Fort Myers, FL.  David Rockwell has been in the securities industry since 2000 and previously worked at SunTrust Investment Services, LLC, Fifth Third Securities, Inc. and Comerica Securities.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), David Rockwell has two pending customer complaints disclosed on his CRD, alleging the following sales practice violations:

  • July 2019 – “Clients allege Mr. Rockwell was involved in forgery and fraud regarding their accounts.”  Alleged damages are $700,000, and the matter is currently pending.
  • June 2016 – “Client alleges that Mr. Rockwell misappropriated money from his investment accounts to invest in a private security related to a company owned by Mr. Rockwell.”  Alleged damages are $500,000, and the matter is currently pending.

In addition, David Rockwell was “discharged” by World Choice Securites, Inc. in June 2019.  The allegations are that, “While at a previous broker-dealer customer established and funded an LLC with $400k and then transferred same to an LLC established by Rockwell for the purpose of (a) real estate deal(s) allegedly never made.”  In November 2018, David Rockwell was discharged from Cetera Advisor Networks, LLC after he “NOTIFIED THE FIRM THAT HE HAD BEEN CHARGED WITH A FELONY.”    

For a copy of David Rockwell’s CRD, click https://brokercheck.finra.org/individual/summary/4236377#disclosuresSection.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.  

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]