Close Menu
Free Consultation: 888-976-6111

David Barnes: $3.4 Million Complaint Against Dallas UBS Advisor

UBS Financial Services advisor David Barnes (CRD# 2181896) recently received an investor complaint alleging his investment advice resulted in more than $3 million in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Dallas, Texas.

Mr. Barnes’ BrokerCheck report discloses two investor complaints. The most recent, filed in August 2022, alleges that as a representative of UBS Financial Services, he “recommended an unsuitable portfolio concentration in energy, finance, and real estate investments and failed to reduce the leverage risk” in the customers’ accounts. The pending complaint alleges damages of $3.4 million.

A second investor complaint, filed in August 2020, alleged that as a representative of UBS Financial Services, he “made unsuitable investment recommendations, including loans.” In April 2022 the complaint reached a settlement of $98,000.

According to the Financial Industry Regulatory Authority, David Barnes holds 30 years of securities industry experience. Based in Dallas, Texas, he has been a broker and an investment advisor with UBS Financial Services since 2016. His past registrations include Credit Suisse Securities (Dallas, Texas; 2009-2016), UBS Financial Services (Dallas, Texas; 2001-2009), and Goldman Sachs (New York, New York; 1991-2001). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; 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 is licensed in Arizona, California, Colorado, Connecticut, Florida, Idaho, Indiana, Kansas, Michigan, Missouri, Nevada, Ohio, Oklahoma, Tennessee, Texas, Virginia, and Washington. (Information current as of September 20, 2022.)

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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Kingswood Advisor Brady Fuchs Receives Oil & Gas Complaint

    San Diego financial advisor Brady Fuchs (CRD# 3203016) has received an investor complaint alleging that his conduct resulted in five-figure...

    Read More
  • Bill Sines: New Complaint Against Senior Financial Services Advisor

    Multiple investor complaints against Seminole, Florida financial advisor Bill Sines (CRD# 2190586) allege that he recommended unsuitable investments. Financial Industry...

    Read More
  • Jason Rossi: $203K Complaint Against Aegis Capital Broker

    Melville, New York financial advisor Jason Rossi (CRD# 4384426) allegedly churned investments and made unauthorized trades, according to a recent...

    Read More
  • Lone Star Advisor Charles Bryant: $200K Suitability Complaint

    Sarasota financial advisor Charles Bryant (CRD# 5346404) is involved in an investor complaint alleging he provided unsuitable investment advice that...

    Read More
  • Previous
  • Next