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David Schmerber May Have Made “Volatile” Investments

David Schmerber

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 3, 2018 indicate that Ohio-based Cetera Advisor Networks broker/adviser David Schmerber has been involved in a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Schmerber (CRD# 2093918).

David Schmerber has spent twenty-seven years in the securities industry and has been registered with Cetera Advisors in Centerville, Ohio since February 2017. Previous registrations include LPL Financial in Centerville, Ohio (1997-2017); Smith Barney in New York, New York (1993-1997); and Lehman Brothers in New York, New York (1990-1993). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on July 20, 1992; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 5, 1990; Series 7 (General Securities Representative Examination), which he obtained on September 18, 1990; and Series 24 (General Securities Principal Examination), which he obtained on June 13, 1997. He is a registered broker and investment adviser with four US states: Indiana, Kentucky, Ohio, and Texas. He is registered with one self-regulatory organization (SRO): FINRA.

According to his BrokerCheck report, David Scherber has received one customer complaint.

In March 2017 a party of customers alleged David Scherber, while employed at LPL Financial, invested their accounts in a number of “complex, volatile and speculative” investments which were unsuitable for their goals, including common and preferred stock products, index options, options, unit investment trusts, and exchange-traded funds. The complaint settled in November 2017 for $395,000.

If you have lost money investing with David Scherber, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.