Securities Arbitration Lawyers BlogBroker David Schmerber Subject of Customer Dispute
David Schmerber (CRD #2093918) is a currently registered broker and investment advisor with Cetera Advisors of Centerville, OH. He has been in the industry since 1990. His previous employers include:
- LPL Financial LLC (CRD #6413)
- Smith Barney Inc. (CRD #7059)
- Lehman Brothers Inc. (CRD #7506)
Schmerber’s brokerage firm, LPL Financial, settled a customer dispute alleging unsuitable investment strategies. Filed on 03/16/2017, the clients alleged that between 2008 and 2016, Schmerber in “various complex, volatile and speculative securities which were unsuitable for claimants’ investment objectives.” The clients requested damages in the amount of $1m, with damages awarded at $395,000.
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