DA Davidson Allegedly Recommends Bad Investments

Investors are filing disputes against securities broker DA Davidson Co. securities broker Gregory Roy Tucker (CRD#: 501274, Des Moines, Iowa). Notably, the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report for Tucker shows that at least 8 clients disputed his sales practices since 2016. These investors suggest that Tucker provided bad investment advice regarding junk bonds among other securities. Let’s take a closer look at the troubling allegations against Tucker.

DA Davidson Client Indicates That Gregory Tucker Recommended Unsuitable Bonds

Evidently, a client of DA Davidson took aim at Gregory Tucker’s sales practices on April 10, 2020 in FINRA Arbitration Claim #: 20-01176. First of all, the client suggested that it was not reasonable or suitable for Tucker to recommend certain bond investments. It seems that Tucker failed to consider the client’s risk tolerance when he advised the client to purchase municipal bonds. Because of Tucker’s seemingly unsuitable sales, the client seeks compensation of $500,000 in this ongoing matter.

Client Of DA Davidson Suggests Tucker Recommended Unsuitable Concentration

Apparently, a DA Davidson client contested Gregory Tucker’s sales practices through a FINRA Arbitration Claim #: 20-01077 dated June 15, 2020. Apparently, Tucker urged the client to buy and hold unsuitable bonds. The securities broker allegedly recommended an unsuitable concentration in those unsuitable bonds as well. However, the client apparently withdrew the matter on June 15, 2020.

Gregory Tucker Allegedly Breaches Fiduciary Duty To DA Davidson Client

BrokerCheck shows that in 2019, a client of DA Davidson made a formal complaint about Gregory Tucker’s bond sales. Notably, it seems that Tucker breached his fiduciary responsibility to the client by investing in securities that did not match the client’s objectives. It seems that Tucker gave the client unreasonable and harmful advice regarding corporate and government bonds. Supposedly, Tucker’s recommendations caused the client to experience losses from 2010 until 2016. Because of this, on January 23, 2020, DA Davidson opted to settle this dispute though making a $215,000 payment to the client.

DA Davidson Client Indicates Tucker Charged Excessive Mark-Ups

Similar to other DA Davidson clients, the client alleged in FINRA Arbitration Claim #: 18-03572 that Gregory Tucker made bad bond recommendations. It seems that Tucker did not consider the client’s risk tolerance and investment objectives when recommending investments. Also, the client alleged that Tucker misrepresented and omitted facts in connection with his corporate, government and municipal bond purchases. Moreover, the client contended that Tucker charged excessive mark-ups and mark-downs. For this reason, the client alleged $10,000,000 in damages in this ongoing matter. This matter is unresolved as of July 2, 2020.

Did Broker Gregory Tucker Sell You Bad Investments?

Lars Soreide AVVO 2020 Top Lawyer

Have you experienced losses by investing with securities broker Gregory Tucker? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Tucker and their employing firms.