Austin, Texas-based Purshe Kaplan Sterling broker Daniel Davila has been involved in resolved or pending complaints, according to the Financial Industry Regulatory Authority (FINRA). Davila allegedly recommended unsuitable investments in non-traded real estate investment trusts (REITs) and private placements, breached contract, committed fraud, breached fiduciary duty, engaged in conspiracy, employed deceptive trade practices and acted negligently. These are all against securities laws and internal firm rules. A brokerage firm has a reasonable duty to only recommend and sell those investments that are suitable for customers, by taking into account their age, net worth, investment objectives and investment sophistication. REITs and private placements tend to be highly illiquid and risky ones, and are not suitable for all investors.
FINRA public records indicate that Daniel Davila was previously registered with H.D. Vest Investment Securities in Irving, Texas from July 1987 until January 2001, National Planning Corp in Austin from January 2001 until October 2009, and Triad Advisors in Austin from October 2009 until October 2014. He is currently registered with Purshe Kaplan Sterling Investments in Austin and has been since October 2014. He has two customer disputes against him that are currently pending.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.