Danny Sookram: Why Did Equitable Fire Aegis Advisor?

Melville, New York financial advisor Danny Sookram (CRD# 6113338) was recently terminated by his broker-dealer firm in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he the former Equitable Advisors broker is currently registered as an investment advisor with Aegis Capital.

Mr. Sookram’s BrokerCheck report discloses his termination from Equitable Advisors. Filed in March 2026, it states that the firm fired him in connection with allegations of “excessive trading in a client’s brokerage account.”

A second disclosure on his BrokerCheck report concerns an investor complaint against him. Filed in 2020, it alleged that he recommended unsuitable investments, breached his fiduciary duty, and breached contract. The complaint reached a settlement of $35,084.55.

A FINRA resource released in 2020 describes excessive trading, also referred to as quantitative unsuitability, as “the situation where a broker makes a large number of trades in a customer’s account not to benefit the customer but to generate commissions for the broker.” A more severe form of excessive trading is referred to as churning, in which a broker engages in excessive trading “with either an intent to defraud or with reckless disregard for the customer’s interests.” More information on potential red flags of excessive trading can be found via FINRA.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Danny Sookram holds 13 years of securities industry experience. Based in Melville, New York, he has been registered as an investment advisor with Aegis Capital since April 2026. He was previously registered as a broker with Equitable Advisors and Aegis. 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 Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He is licensed as an investment advisor in New York. (Information current as of April 26, 2026.)

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