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Davis Advisory Group’s Pamela Espinosa: $1 Million Complaint
Albuquerque financial advisor Pamela Espinosa (CRD# 5865661) is involved in an investor complaint alleging that her recommendations led to seven-figure damages. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor with Kestra Investment Services and Kestra Advisory Services, doing business as Davis Advisory Group.
Ms. Espinosa’s BrokerCheck report discloses one investor complaint. Filed in January 2023, it alleges that as a representative of SII Investments, she “recommended unsuitable private investments in order to generate high commissions” and “engaged in cross trading.” The pending complaint alleges damages of $1 million.
According to a 2020 FINRA resource, excessive trading describes “the situation where a broker makes a large number of trades in a customer’s account not to benefit the customer but to generate commissions for the broker.” In more severe cases, described as churning, a broker makes excessive transactions in the client’s account “with either an intent to defraud or with reckless disregard for the customer’s interests.” The term unsuitable, meanwhile, refers to investment recommendations that are not appropriate for a customer’s background and objectives, as outlined by FINRA Rule 2111. Advisors who recommend unsuitable and/or excessive transactions may be held liable in the event of losses.
According to the Financial Industry Regulatory Authority, Pamela Espinosa holds eleven years of securities industry experience. Based in Albuquerque, New Mexico, she has been a broker and an investment advisor with Kestra Investment Services and Kestra Advisory Services since 2017, doing business as Davis Advisory Group. She was previously registered with SII Investments in Albuquerque from 2011 until 2017. Her 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. She is licensed in Arizona, California, Colorado, the District of Columbia, Idaho, Illinois, Montana, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, South Carolina, Texas, Utah, Virginia, Washington, and Wyoming. (Information current as of March 7, 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.