David Reo: $350K Complaint Against Reo Financial Advisor

Rensselaer financial advisor David Reo (CRD# 2113425) is involved in an investor complaint alleging damages of more than $300,000. Records maintained by the Financial Industry Regulatory Authority show that he is a broker with Innovation Partners and an investment advisor with IP Financial Advisory Services, doing business as Reo Financial Services.

Mr. Reo’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2022, alleges that as a representative of Innovation Partners, he engaged in unspecified misconduct relating to investments in corporate and municipal bonds. The pending complaint alleges damages of $350,000.

An earlier investor complaint, filed in 2003, alleged that as a representative of Sunbelt Securities, he recommended unsuitable securities, violated industry rules, and breached his fiduciary duty in connection with a private placement product. In 2004 the complaint reached a settlement of $17,000.

A third disclosure on Mr. Reo’s BrokerCheck report concerns his his termination from Summit Brokerage Services in 2016. According to the disclosure, the firm fired him in connection with allegations that he “submitted new account paperwork for supervisory review and approval that contained non-original client signatures in violation of Firm policy.”

According to the Financial Industry Regulatory Authority, David Reo holds 31 years of securities industry experience. Based in Rensselaer, New York, he has been a broker with Innovation Partners since 2016 and an investment advisor with IP Financial Advisory Services since 2021. He does business as Reo Financial Services. His past registrations include Summit Brokerage Services (Rensselaer, New York; 2015-2016), JP Turner & Company (Rensselaer, New York; 1999-2015), Investors Capital Corporation (Lynnfield, New York; 1999), Sunpoint Securities (Longview, Texas; 1994-1999), and American Capital Corporation (1991-1993). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in New York and South Carolina. (Information current as of December 15, 2022.)

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