Advisor Alert: Our Attorneys Are Investigating David Anthony Reo For Investment Fraud
Did You Lose Money Because of David Reo?
Filed: March 21, 2024
David Reo has been the subject of two (2) customer complaints and two (2) termination events. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on David Anthony Reo.
Who Is David Anthony Reo of Innovation Partners LLC and IP Financial Advisory Services LLC?
- Advisor Name: David Anthony Reo
- Aliases: David Reo
- CRD: 2113425
- Location: Charlotte, North Carolina and Rensselaer, New York
- Current Employer: Innovation Partners LLC and IP Financial Advisory Services LLC
- Previous Firms: Summit Financial Group Inc, Cetera Investment Advisers LLC, and Summit Brokerage Services, Inc.
- Number of Known Customer Complaints: 2
- Number of Known Termination Events: 2
- Can David Reo Be Sued: Yes, in Private Arbitration
- Can David Reo’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $350,000
- Highest Settlement: $75,000
If you have suffered investment losses by David Reo, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against David Reo For Broker Misconduct
As of this publication date, David Reo has been the subject of 2 customer disputes and 2 termination events. Let’s review them below.
In September 2022, a FINRA arbitration was filed against or in reference to David Reo by a customer of Innovation Partners LLC alleging that the client wanted income investment, showed them a variety of choices, bonds, UIT, Direct Investment. Per the customer, he/she lost over $350,000 because of Mr. Reo’s actions. On May 23, 2023, Mr. Reo settled the claim for $75,000, and some or all of this amount may have been paid by Mr. Reo’s employer and/or insurance carrier.
In March 2016, Summit Brokerage Services terminated David Reo for submitting new account paperwork for supervisory review and approval that contained non-original client signatures in violation of Firm policy.
In February 2003, a NASD arbitration was filed against or in reference to David Reo by multiple customers of Sunpoint Securities Inc. alleging that Mr. Reo recommended unsuitable securities, violated NASD conduct rules and claims these actions constituted a breach of fiduciary duties to the claimants. Per the customers, they lost over $41,916 because of Mr. Reo’s actions. On February 24, 2004, Mr. Reo settled the claim for $17,000.
In November 1993, American Capital Corp. terminated David Reo for allegedly attempting a rebate of a variable annuity, as a result the insurance company canceled Mr. Reo’s appointment and contacted American Capital.
How To File A Claim Against David Reo of Innovation Partners LLC and IP Financial Advisory Services LLC (previously with Summit Financial Group Inc, Cetera Investment Advisers LLC, and Summit Brokerage Services, Inc.) To Get Your Money Back
If you have questions about David Reo, Innovation Partners LLC, IP Financial Advisory Services LLC, Summit Financial Group Inc, Cetera Investment Advisers LLC, Summit Brokerage Services, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.