Investors might have sustained losses due to securities broker David Edward Spellman [CRD: 6784263, San Antonio, Texas], according to disclosures on FINRA BrokerCheck. According to the regulator, Spellman has worked for Money Concepts Capital Corp. since June 30, 2017, and with Money Concepts Advisory Service since October 18, 2018. Here’s more about the disclosures concerning Spellman.
Specifically, a client of Money Concepts Capital Corp. contested David Spellman’s sales practices, according to a complaint dated October 18, 2023. Allegedly, Spellman engaged in unreasonable trading and violated Texas Insurance Code. It appears that Spellman allegedly caused the client to sustain damages on life insurance products. Therefore, the client sought damages from Money Concepts Capital Corp. or Spellman in the amount of $250,000 in this matter.
Also, a client filed a complaint about David Spellman. Supposedly, Spellman made misrepresentations of material fact. Because of this, the client allegedly sustained damages on life insurance products. Therefore, on January 2, 2020, Money Concepts Capital Corp. settled this matter by paying the client $5,000 in damages.
Seeking more information about David Spellman? If you incurred losses, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a possible recovery. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Spellman and brokerage firms Spellman worked for deny any allegations of sales practice violations.
Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.
An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
Every settled customer dispute on Peter Maller's BrokerCheck report names Lincoln Financial as the firm. Maller holds CRD number 2322403. The newest dispute, filed on March 5, 2024, settled on August 15, 2024 for $12,500 against alleged damages of $50,000. The claimants alleged that the representative represented an oil and gas investment as safe.
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