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Dave Taddeo: $124K Complaint Against Summit Wealth Advisor

La Mesa, California financial Dave Taddeo (CRD# 1163829) recently received an investor complaint alleging that his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with LPL Financial, doing business as Summit Wealth Solutions.

Mr. Taddeo’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2023, alleges that as a representative of LPL Financial, he recommended an unsuitable private securities transaction and breached his fiduciary duty. The pending complaint alleges damages of $124,167.

An earlier investor complaint, filed in 2020, alleged that as an LPL representative, he presented the terms of a variable annuity income benefit “in error.” The complaint reached a settlement of $249,624.

A third investor complaint, also filed in 2020, similarly alleged that he misrepresented a variable annuity investment. The complaint reached a settlement of $325,000.

A fourth investor complaint, filed in 2020, also alleged that he provided misleading advice regarding a variable annuity product. The complaint reached a settlement of $289,625.

A fifth investor complaint, filed in 2002, alleged that he “caused and/or contributed to delays in closing and terminated” a profit sharing plan, resulting in losses. In 2004 the complaint reached a settlement of $115,000.

Other current or former LPL Financial advisors to receive investor complaints include John Demertzis, Doug Nelson, Randy Redd, Joey Hobbs, and Ian Geeves.

According to the Financial Industry Regulatory Authority, Dave Taddeo holds 26 years of securities industry experience. Based in La Mesa, California, he has been a broker and an investment advisor with LPL Financial since 2000 and 2002, respectively, doing business as Summit Wealth Solutions. His past registrations include Financial Network Investment Corporation (El Segundo, California; 1998-2000) and American Pacific Securities Corporation (1983-1984). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 Investment Adviser Law Examination, or Series 65. He holds 41 state licenses. (Information current as of January 29, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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