Former Kestra Investment Services, LLC and Ameriprise Financial Services, Inc. broker David Lentz (CRD# 4335856) faces multi-million dollar customer complaints. He was registered with Kestra Investment Services, LLC in Kernersville, North Carolina from 2017 to 2020. Previously, he was registered with Prospera Financial Services, Inc. in Charlotte, North Carolina from 2013 to 2017 and with TCA Financial Group, LLC in Charlotte, North Carolina from 2008 to 2013. Prior to then, he was registered with Ameriprise Financial Services, Inc. in Charlotte, North Carolina from 2003 to 2007 and with IDS Life Insurance Company in Minneapolis, Minnesota from 2003 to 2006.
In 2007, he was terminated from American Express Financial Advisors regarding, “the advisor resigned while under review for signature discrepancies.”
In August 2008, FINRA sanctioned him to a civil and administrative penalty and fine related to allegation that he “cut and pasted the customers’ signatures onto the “explanation of transaction” forms without the customers’ authorization or knowledge and placed the forms in the customer files until he received the signed forms.” He consented to the described sanctions and to the entry of findings and was fined $5,000 and was suspended from association with any FINRA member in any capacity for one month. The complaint took place while he was registered with Ameriprise Financial Services, LLC.
David Lentz Customer Complaints
He has been the subject of four customer complaints between 2009 and 2022, one of which was denied, according to his CRD report. The most recent complaints were regarding:
July 2022. “Beginning in 2004, a former Ameriprise client alleges mismanagement of her finances in unsuitable investments, forgery, misrepresentation, churning, day trading that resulted in financial losses.” The customer is seeking $2 million in damages and the case is currently pending. The complaint took place while he was registered with Ameriprise Financial Services, LLC.
June 2022. “Client alleges mismanagement of finances and investments including allegations of misrepresentation, unauthorized day trading, and forgery.” The customer is seeking $1,292,500 in damages and the case is currently pending. The complaint took place while he was registered with Kestra Investment Services, LLC. The complaint was regarding equity OTC and options losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Kestra Investment Services, LLC may be liable for investment or other losses suffered by David Lentz’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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