David Sosa: Structured Products Complaint Against Cetera Advisor

Lake Mary, Florida financial advisor David Sosa (CRD# 2447013) allegedly made an unauthorized transaction, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cetera Investment Services and Cetera Investment Advisers, respectively, and that he is an employee of Regions Bank.

Mr. Sosa’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2024, alleges that as a representative of Cetera Investment Services, he purchased structured products without authorization. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2006, alleged that as a Citicorp Investment Services representative, he recommended unsuitable products, misrepresented material facts, and provided a guarantee against losses. The complaint reached a settlement of $185,000.

A third investor complaint, filed in 2003, alleged that as a Citicorp representative, he omitted that the removal of funds from mutual fund shares during a certain period “would be subject to heavy penalties.” The complaint reached a settlement of $11,700.

Regions Bank’s website includes a profile of Mr. Sosa that describes his services, including mutual fund investments, digital investing, and college planning. “When it comes to your financial future, you need a trusted partner,” it explains. “David will focus on solutions for your immediate needs and help you develop a comprehensive strategy to meet your long-term financial goals.”

According to the Financial Industry Regulatory Authority, David Sosa holds 11 years of securities industry experience. Based in Lake Mary, Florida, he has been registered as a broker and an investment advisor with Cetera Investment Services and Cetera Investment Advisers, respectively, since February 2023. His registration history includes Citicorp Investment Services (2000-2005), WM Financial Services (1998-2000), First Union Brokerage Services (1996-1998), Citicorp Investment Services (1994), and Chatfield Dean & Company (1994). His credentials include the passage of seven securities industry qualifying exams: the General Securities Representative Examination, or Series 7TO; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Maryland, New Jersey, North Carolina, Tennessee, and Virginia. (Information current as of December 23, 2024.)

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