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David Wampler: $100K Bond Complaint Against Moloney Advisor

Kerrville, Texas financial advisor David Wampler (CRD# 2906256) recently received an investor complaint alleging that his investment advice resulted in six-figure damages. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently a broker and an investment advisor with Moloney Securities.

Mr. Wampler’s BrokerCheck report discloses one investor complaint. Filed in April 2023, it alleges that he acted negligently and recommended an unsuitable corporate bond product in 2021. The pending complaint alleges damages of $100,000.

FINRA’s suitability standard is laid out by Rule 2111, which states that representatives like Mr. Wampler must “have a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable for the customer.” Brokers arrive at this basis through a process of conducting “reasonable diligence” into the customer’s “investment profile,” which includes, but is not limited to, the customer’s financial situation, age, net worth, investment needs and goals, liquidity requirements, and risk tolerance. Brokers who lack a “firm understanding” of their customer and the products they’re recommending are considered to have violated Rule 2111.

According to the Financial Industry Regulatory Authority, David Wampler holds 25 years of securities industry experience. Based in Kerrville, Texas, he has been a broker and an investment advisor with Moloney Securities since 2003 and 2016, respectively. His registration history includes RBC Dain Rauscher (Kerrville, Texas; 2002-2003), Dain Rauscher Incorporated (1998), and Rauscher Pierce Refsnes (Dallas, Texas; 1997-1998). His credentials include the passage of three securities industry qualifying exams: 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 Colorado, Florida, Georgia, Hawaii, Kansas, Kentucky, Michigan, New Mexico, Texas, and Virginia. (Information current as of May 27, 2023.)

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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