David Dosik: Why Did Cetera Advisor Resign from SCF Securities?

Northbrook, Illinois financial advisor David Dosik (CRD# 1978544) recently resigned from SCF Securities in connection with alleged policy violations. Financial Industry Regulatory Authority records show that he is now registered as a broker and an investment advisor with Cetera Financial Specialists and Cetera Investment Advisers, respectively.

Mr. Dosik’s BrokerCheck report discloses his voluntary resignation from SCF Securities. Filed in September 2024, it states that he resigned from the firm in connection with the allegations that he failed to follow firm requirements to call customers to confirm distributions after receiving emailed distribution requests from customers who later claimed, following withdrawals from their accounts, that their emails had been hacked. The firm is conducting an “ongoing” review of the matter, according to the disclosure.

His BrokerCheck report also discloses one investor complaint. Filed in 2002, it alleged that as a representative of Banc One Securities, he breached contract, committed fraud, breached his fiduciary duty, misrepresented material facts, and acted negligently. The complaint evolved into an arbitration proceeding before an NASD panel, which issued an award to the customer of $45,000.

According to the Financial Industry Regulatory Authority, David Dosik holds 33 years of securities industry experience. Based in Northbrook, Illinois, he has been registered as a broker and an investment advisor with Cetera Financial Specialists and Cetera Investment Advisers, respectively, since September 2024. His past registrations include SCF Securities, BrokersXpress, Financial West Group, Banc One Securities, PrimeVest Financial Services, Essex National Securities, First Chicago Investment Services, Hamilton Investments, Painewebber, and Shearson Lehman Hutton. 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 is licensed in Florida, Pennsylvania, and Texas. (Information current as of September 28, 2024.)

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