David Segarra: Suitability Complaint Against LPL, Ex-Centaurus Advisor

A recent investor complaint against Las Vegas, Nevada financial advisor David Segarra (CRD# 4482059) alleges that his ådvice resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Latus Group.

Mr. Segarra’s BrokerCheck report discloses one recent investor complaint. Filed in October 2025, it alleges that as a representative of Centaurus Financial, he “recommended an unsuitable, high-risk, illiquid investment.” The pending complaint alleges damages of $35,000.

The Financial Industry Regulatory Authority maintains numerous rules and standards that brokers like Mr. Segarra must follow. One such rule is the suitability rule, which holds that brokers must “have a reasonable basis to believe” their investment recommendations are appropriate for their customers. As outlined in FINRA Rule 2111, and later Regulation Best Interest, brokers determine an investment’s suitability by evaluating “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” An investor’s profile includes such information as their age, income, net worth, and risk tolerance. The recommendation of unsuitable investments can lead to potentially significant losses for the customer.

According to the Financial Industry Regulatory Authority, David Segarra holds 20 years of securities industry experience. Based in Las Vegas, Nevada, he has been registered as a broker and an investment advisor with LPL Financial 2024. His past registrations include Centaurus Financial, Brookstreet Securities, and Great Eastern Securities. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He holds 34 state licenses. (Information current as of February 15, 2026.)

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.