Investors have reportedly disputed the sales practices of securities broker David Robert McCain [CRD: 2039283, Johnson City, Tennessee], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. McCain worked for Woodbury Financial Services Inc. from September 4, 2009, to January 19, 2024, Osaic Wealth Inc. from January 19, 2024, to August 22, 2024, and LPL Financial LLC since August 19, 2024. Investors are encouraged to continue reading to find out more about the securities broker’s disclosures.
Specifically, on November 12, 2025, an Osaic Wealth Inc. and Woodbury Financial Services Inc. client filed Civil Action No. 32CH1-2025-CV-347 about David McCain. Primarily, the client alleged that McCain failed to provide information and account statements. Because of this, the client allegedly incurred damages. Therefore, the client requested $2,000,000 in compensation from the securities brokerage firms or McCain. It appears that this civil suit is pending a resolution.
Notably, a client of UBS PaineWebber Inc. contested David McCain’s sales practices by filing NASD Arbitration No. 02-01585 on May 2, 2002. Allegedly, McCain made unsuitable recommendations involving variable annuities, unit investment trusts, and stocks. It appears that McCain allegedly caused the client to sustain damages pertaining to these investments. Consequently, the client sought compensation from UBS PaineWebber Inc. in the amount of $350,000 in this matter.
Did you experience losses because of David McCain? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for many clients throughout the country. Also, our securities attorneys work on a contingency fee arrangement and advance all costs. McCain and brokerage firms McCain worked for deny any accusations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
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