Robin Bruce Davidson entered the financial industry in 1989. He worked for LPL Financial for 14 years, from 1994 to 2008. Davidson has received numerous customer complaints for trading activities that occurred while employed at LPL.
In fact, one complaint which is still pending, alleges unsuitable investments in REITs. The customer is seeking approximately $400,000 in damages. One complaint alleged unsuitability and misrepresentation in relation to REITs invested in between 2004 and 2007. Another complaint alleged negligence, breach of fiduciary duty and financial elder abuse in relation to REITs. In that case, the customer received $217,000 in settlement. A third complaint, filed in 2010 alleged unsuitable investment and breach of fiduciary duty. That case settled for $40,000. Yet another complaint filed against Davidson alleged fraudulent concealment of facts and forgery of customer’s signatures. That case settled before arbitration for $600,000.
After leaving LPL in 2008, Davidson worked for Western International Securities before being terminated for participating in private securities transactions and recommending his clients participate in certain programs, for which Davidson received over 3,000 in compensation for referrals. Davidson was also fined 10,000 by FINRA and suspended from FINRA for 16 months.
For a full list of Robin Bruce Davidson’s customer complaints and FINRA violations, see his BrokerCheck Report on FINRA’s website.