DAVID SCOTT CUTSHALL is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 611 MAIN AVENUE, BROOKINGS, SD, 57006.
DAVID SCOTT CUTSHALL has worked at CETERA ADVISORS LLC since September 08, 1995
Disclosure History
DAVID SCOTT CUTSHALL has 2 Disclosure Event(s).
Date: January 13, 2015 Category: Customer Dispute Allegations: UNSUITABLE INVESTMENTS, VIOLATIONS OF SOUTH DAKOTA SECURITIES ACT, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, AND NEGLIGENCE. Damage Amount Requested: $50,000.00 Settlement Amount: $12,000.00 Broker Comment: DAVID CUTSHALL WAS NOT A NAMED PARTY TO THIS ACTION BUT ONLY THE BROKER DEALER, CETERA ADVISORS, WAS AND THEY SETTLED WITH THE CLIENT FOR $12,000. THE CLIENT'S ALLEGATIONS ARE UNFOUNDED AS WE FULLY DISCUSSED ALL MATERIAL ASPECTS OF THIS INVESTMENT FOR OVER 6 MONTHS AND THE CLIENT HELD THE PROSPECTUS FOR SEVERAL WEEKS BEFORE ACQUISITION. THE REITS WERE SUITABLE BECAUSE THE CLIENT HAD A LARGE AMOUNT OF LIQUID ASSETS AND REQUIRED ADDITIONAL INCOME AND DIVERSIFICATION.
Date: December 10, 2003 Category: Customer Dispute Allegations: THE COURT APPOINTED RECEIVER FOR MID-AMERICA FOUNDATION ALLEGES THAT THE REPRESENTATIVE DID NOT EXERCISE DUE DILIGENCE BY FALLING TO INVESTIGATE MID-AMERICA AND THE CHARITABLE GIFT ANNUITIES (CGA) TO DETERMINE WHETHER MID-AMERICA FOUNDATION WAS FINANCIALLY SOUND WHETHER THE SALES OF CGAS COMPLIED WITH STATE LAWS. Damage Amount Requested: $10,501.51 Settlement Amount: $10,501.51 Broker Comment: THIS SETTLEMENT WAS A RETURN OF COMMISSIONS TO THE MID-AMERICA RECEIVERSHIP.
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