Did you lose money investing with former Avantax Investment Services, Inc. broker David Monheit (CRD# 4586091)? He has been registered with Cetera Wealth Services, LLC in Surprise, Arizona, since 2025, and Cetera Investment Advisers LLC in Schaumburg, Illinois, since 2025. He was registered with Avantax Advisory Services in Surprise, Arizona, from 2019 to 2025, Avantax Investment Services, Inc. in Surprise, Arizona, from 2019 to 2025, 1st Global Advisors Inc. in Surprise, Arizona, from 2004 to 2019, and 1st Global Capital Corp. in Surprise, Arizona, from 2004 to 2019.
David Monheit Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
February 2026. “Client alleged the representative misappropriated her non-qualified cash that was deposited into her discretionary fee-based managed wrap account by investing the cash into the market in September 2021 without her authorization. On October 4, 2022, an additional allegation was received alleging the investments were not suitable.” The customer is seeking $112,766 in damages, and the case is currently pending. The complaint was regarding common and preferred stock losses, and it took place while he was registered with Avantax Investment Services, Inc.
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, Avantax Investment Services, Inc. may be liable for investment or other losses suffered by David Monheit’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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