David Olsen: $582K Complaint Against Madison Avenue Advisor

Fort Lauderdale, Florida financial advisor David Olsen (CRD# 4823650) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Madison Avenue Securities broker is currently registered as an investment advisor with Global Wealth Management Investment Advisory.

Mr. Olsen’s BrokerCheck report discloses one investor complaint. Filed in January 2026, it alleges that as a representative of Madison Avenue Securities, he recommended unsuitable 1031 exchange investments. The pending complaint alleges damages of $582,000.

FINRA rules establish certain standards that financial advisors must follow. Perhaps one of the most important standards is the suitability rule, as outlined in FINRA Rule 2111 and later Regulation Best Interest, which states that stockbrokers must “have a reasonable basis to believe” the investments and/or strategies they recommend to their clients are appropriate for the client’s background and needs—including their risk tolerance. The rule stipulates that they must evaluate an investment’s suitability based on “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” A broker who recommends investments that exceed the customer’s risk tolerance may be liable in the event of losses.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, David Olsen holds 15 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been registered as an investment advisor with Global Wealth Management Investment Advisory since 2017. His registration hisitory includes Madison Avenue Securities, Northwestern Mutual Investment Services, Pacific West Securities, Costa Financial Securities, and Morgan Stanley. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; and the Futures Managed Funds Examination, or Series 31. He is licensed in Florida. (Information current as of February 8, 2026.)

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