Close Menu
Free Consultation: 888-976-6111

David Silberg: Garden City Financial Advisor Sanctioned

A disciplinary action taken by state securities authorities against Garden City, New York broker and investment advisor David Silberg (CRD# 1970484) sanctioned him in connection to allegations of forgery, misrepresentations, unauthorized trading, and more. A representative of Allied Millennial Partners, Silberg was placed on heightened supervision for two years.

Dated September 2018, the action taken by the Massachusetts Securities Division stated that David Silberg “has been the subject of five customer complaints,” detailing such allegations as forgery of a loan form and check, the misrepresentation of costs associated with a life insurance policy transfer, the misrepresentation of the consequences that would result from an annuity sale, the execution of unauthorized trades, the recommendation of unsuitable investments, and the misrepresentation and omission of material facts. Silberg entered into a consent order with regulators placing him on heightened supervision for two years, and stipulating that he “will not solicit or meet with new Massachusetts customers and will not service accounts for new Massachusetts customers.”

David Silberg’s disclosure records also list two customer complaints against him.

A 2016 complaint alleged that from 2013 until the present, he recommended unsuitable investments, misrepresented material facts, and omitted material facts connected to an investment in a corporate debt security. The complaint reached a settlement in 2017 of $29,750.

A 2009 complaint alleged that as a representative of Gunnallen Financial, Silberg recommended unsuitable investments, failed in his supervisory duties, and executed unauthorized trades. The complaint reached a settlement of $50,000.

David Silberg is currently registered with Allied Millennial Partners in Garden City, New York, where he has been registered since 2018. His employment history includes Aegis Capital in Melville, New York; Gunnallen Financial in Farmingdale, New York; Great Eastern Securities in New York, New York; Kirlin Securities in Syosset, New York; Maxim Group in New York, New York; Investec Ernst in New York, New York; Northeast Securities in Mitchelfield, New York; Triad Financial in Holbrook, New York; NYLife Securities in New York, New York; John Hancock Distributors in Boston, Massachusetts; and John Hancock Mutual Life Insurance Company in Boston, Massachusetts. He currently holds five state licenses and has passed 19 securities industry qualification examinations.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Beau McNicholas: Financial Landscaping Advisor Lands Complaint

    Brooklyn, New York financial advisor Beau McNicholas (CRD# 4199745) recently received an investor complaint alleging that his conduct resulted in...

    Read More
  • Enrique Pascual: $635K Complaint Against Stonecrest Advisor

    A recent investor complaint against San Juan, Puerto Rico financial advisor Enrique Pascual (CRD# 2184412) alleges that he recommended an...

    Read More
  • Jerry Hanifan: Estate Planning Center Advisor Faces $50K Complaint

    West Jefferson, North Carolina financial advisor Jerry Hanifan (CRD# 2286666) has received multiple investor complaints alleging that he recommended unsuitable...

    Read More
  • TK Daniel Chen: $500K GWG Complaint Against TKC Wealth Advisor

    Dallas, Texas financial advisor TK Daniel Chen (CRD# 2394916) recently received an investor complaint alleging that he recommended an unsuitable...

    Read More
  • Previous
  • Next