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David B. White: Financial Advisor Faces $200K Bond Complaint

A recent investor complaint against former Bloomfield Hills financial advisor David B. White (CRD# 1382131) alleges that his investment advice resulted in six-figure losses. Records provided by the Financial Industry Regulatory Authority show that he was most recently registered as a broker with Centaurus Financial, doing business as David B. White Financial.

Mr. White’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2022, alleges that as a representative of Centaurus Financial, he misrepresented material facts relating to a corporate bond investment. The pending complaint alleges damages of $200,000.

An earlier investor complaint, filed in 2016, alleged that he recommended investments that did not perform “as anticipated” while he was at Centaurus Financial. In 2017 the complaint reached a settlement of $12,500.

A third investor complaint, filed in 2015, alleged that he misrepresented material facts relating to investments in non-traded REITs, oil and gas programs, and limited partnerships. The complaint settled with the firm’s repurchase of one of the products.

Another investor complaint, filed in 2014, alleged that he misconduct relating to a variable annuity investment purchased in 2008. In 2015 the complaint reached a settlement of $35,000.

A fifth investor complaint, filed in 2010, alleged the conversion of funds invested in “the American charitable program.” In 2011 the complaint reached a settlement of $14,999.99.

A sixth complaint, filed in 2007, alleged unsuitable investment recommendations, excessive concentration, and the misrepresentation or omission of material facts while he was a representative of Leonard & Company. In 2008 the complaint reached a settlement of $13,999.

According to the Financial Industry Regulatory Authority, David B. White  holds 34 years of securities industry experience. He was most recently registered as a broker with Centaurus Financial in Bloomfield Hills, Michigan from 2005 until 2020, doing business as David B. White Financial. His registration history includes Leonard & Company (Troy, Michigan; 1998-2005), Vestax Securities Corporation (Hudson, Ohio; 1991-1998), Walnut Street Securities (El Segundo, California; 1987-1991), and Hall Securities Corporation (1985-1987). His credentials include the passage of five securities industry qualifying exams: the Direct Participation Programs Representative Examination, or Series 22; 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; and the Uniform Securities Agent State Law Examination, or Series 63. He is not currently licensed with any state or firm. (Information current as of March 21, 2023.)

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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