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David Glienke: $100K Complaint Against ClearCoast Wealth Advisor

A recent investor complaint against Westlake Village, California financial advisor David Glienke (CRD# 5502866) alleges 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 Western International Securities, doing business as ClearCoast Wealth Management.

Mr. Glienke’s BrokerCheck report discloses one investor complaint. Filed in December 2023, it alleges that as a representative of Western International Securities, he misrepresented a corporate bond investment. The pending complaint alleges damages of $100,000.

Investors should be aware that industry rules prohibit brokers from providing misrepresentations of the investments or strategies they recommend. FINRA Rule 2020, to be precise, stipulates that brokers shall not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Registered representatives who violate this rule may be held liable for damages.

ClearCoast Wealth Management’s website includes a profile of Mr. Glienke that describes him as the firm’s president. “He is passionate about seeking new ways to enhance the services he and his associates are able to offer clients,” it states. “While his passion for investing dates back to high school, David has been a professional investment manager since 2008.”

According to the Financial Industry Regulatory Authority, Davie Glienke holds 15 years of securities industry experience. Based in Westlake Village, California, he has been a broker and an investment advisor with Western International Securities since 2008 and 2010, respectively, doing business as ClearCoast Wealth Management. His registration history includes Financial West Group, with whose office in Reno, Nevada he was registered in 2008. His credentials include the passage of four 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; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, Pennsylvania, Tennessee, and Texas. (Information current as of January 15, 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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