March 2025 – Orlando, FL
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Essential Information About David Isaiah Strunc
- Full Name: David Isaiah Strunc
- CRD Number: 4766050
- Current Location: Orlando, FL
- Current Employers: Cetera Advisors LLC (since 06/22/2012) and Cetera Investment Advisers LLC (since 03/21/2024)
- Office Address: 6052 Turkey Lake Rd Ste 101, Orlando, FL 32819
- Registration Status: Currently registered with 1 SRO and in 19 U.S. states and territories
- State Licenses: Registered as both a broker and investment adviser in multiple states
- Experience: In the industry since 2004
- FINRA BrokerCheck: One pending customer dispute
- Previous Employers: Woodbury Financial Services, Inc. (2009-2012), Ameriprise Financial Services, Inc. (2004-2009)
- Ability to Recover Losses: FINRA arbitration case #25-00078 is currently pending
The David Isaiah Strunc Investigation: What Investors Need to Know
David Isaiah Strunc, a financial advisor currently employed with Cetera Advisors LLC and Cetera Investment Advisers LLC in Orlando, Florida, is facing serious allegations of misconduct in a pending FINRA arbitration case. According to his BrokerCheck report, Strunc is the subject of a customer complaint alleging multiple violations of securities industry standards and regulations. This article provides a comprehensive analysis of the pending case, Strunc’s professional background, and crucial information for investors who may have been affected.
The allegations against Strunc underscore a troubling scenario that securities fraud attorneys frequently encounter: financial advisors who may have failed to fulfill their legal and ethical obligations to their clients. When financial professionals prioritize their own interests over those of their clients, investors can suffer substantial financial harm, often amounting to significant portions of their life savings.
Case Overview: Allegations Against David Isaiah Strunc
According to FINRA BrokerCheck records, a customer filed a complaint against David Isaiah Strunc in January 2025. The complaint, which is currently pending as FINRA arbitration case #25-00078, contains several serious allegations against Strunc, including:
- Negligent and improper conduct
- Breach of contract
- Breach of fiduciary duty
- Negligence
- Negligent supervision
- Violations of Regulation Best Interest (Reg BI)
The complaint specifically mentions investments in equity listed stocks and unit investment trusts. The claimant alleges that these improper recommendations resulted in financial losses, with claimed damages of approximately $100,000.
This pending arbitration case was filed on January 13, 2025, and the complaint was received on January 17, 2025. The case is being arbitrated in Orlando, Florida, suggesting that the affected investor(s) are likely located in or near the central Florida region.
The nature of these allegations—particularly the alleged violations of Regulation Best Interest—is especially concerning. Regulation BI, which went into effect in June 2020, requires broker-dealers to act in the best interest of their retail customers when making recommendations about securities transactions or investment strategies. The inclusion of this allegation suggests that the complainant believes Strunc failed to meet this critical standard of conduct.
David Isaiah Strunc’s Professional Background and History
A thorough examination of Strunc’s professional history and qualifications reveals information that investors should be aware of:
Education and Professional Designations
According to his BrokerCheck report, Strunc has not reported any professional designations. This absence of advanced industry credentials, while not necessarily problematic in itself, means that investors would have relied primarily on his experience and the reputation of his employing firms when deciding whether to trust him with their investments.
Employment Timeline
Strunc’s employment history in the securities industry includes:
- Cetera Investment Advisers LLC (March 2024 – Present)
- Cetera Advisors LLC (January 2013 – Present)
- Woodbury Financial Services, Inc. (November 2009 – July 2012)
- Ameriprise Financial Services, Inc. (May 2004 – November 2009)
- IDS Life Insurance Company (May 2004 – July 2006)
Strunc has been in the financial services industry for approximately 21 years, having begun his career in 2004. With this extensive experience, he would be expected to fully understand the regulatory requirements and ethical standards governing the industry.
Licensing and Registration
Strunc is currently registered with FINRA as a General Securities Representative and Investment Company Products/Variable Contracts Representative. He has passed several industry examinations, including:
- Series 7 (General Securities Representative Examination) – passed May 26, 2004
- Series 6TO (Investment Company Products/Variable Contracts Representative Examination) – passed January 2, 2023
- Series 66 (Uniform Combined State Law Examination) – passed July 2, 2004
- Securities Industry Essentials (SIE) Examination – passed October 1, 2018
Notably, Strunc has not passed any principal/supervisory exams, meaning he is not qualified to supervise other registered representatives.
He is licensed to conduct securities business in 19 states and territories, with significant concentrations in the southeastern United States, particularly Florida.
Other Business Activities
The BrokerCheck report reveals that Strunc engages in numerous business activities outside of his role at Cetera, including:
- Fixed insurance sales
- Real estate rental property management (started in 2005)
- “Sunrise Wealth Advisors” – a DBA (doing business as) name for his financial services, where he serves as founding partner (started in 2009)
- Notary services (started in 2010)
- DIS Investment Management, Inc. – a business entity for tax purposes (started in 2014)
- Babroonie Investments LLC DBA Santinos Pizza N Wings – a restaurant business where he is an owner (started in 2021)
These additional business activities raise significant concerns about potential conflicts of interest and time management. According to the report, Strunc spends 40-50 hours per week on his “Sunrise Wealth Advisors” business, plus 5-10 hours per week (including during trading hours) on his restaurant business. These substantial time commitments to outside business activities may detract from the attention he can devote to managing client investments.
Red Flags in the David Isaiah Strunc Investigation
The pending customer complaint against Strunc raises several red flags that current and prospective investors should be aware of:
Breach of Fiduciary Duty Allegations
The complaint alleges that Strunc breached his fiduciary duty to his client(s). As an investment adviser representative, Strunc is held to a fiduciary standard, which requires him to act in the best interests of his clients, provide full and fair disclosure of all material facts, and eliminate or disclose all conflicts of interest. A breach of this duty represents a fundamental violation of the trust placed in him by his clients.
Regulation Best Interest Violations
The complaint specifically alleges violations of Regulation BI, which requires broker-dealers and their associated persons to act in the best interest of retail customers when making investment recommendations. This regulation, implemented by the SEC in 2020, established a higher standard of conduct for brokers. Allegations of violations suggest that Strunc may have failed to prioritize his clients’ interests over his own.
Focus on Equity Securities and Unit Investment Trusts
The complaint specifically mentions equities (common and preferred stocks) and unit investment trusts (UITs). UITs can be complex investments with higher fees than mutual funds or exchange-traded funds (ETFs). They typically have a fixed portfolio and a specified termination date, which can create liquidity constraints for investors. The combination of these investment types may indicate potential issues with portfolio diversification or suitability.
Negligent Supervision Claims
The inclusion of negligent supervision in the allegations suggests that the complainant believes Cetera Advisors LLC failed to properly oversee Strunc’s activities. Brokerage firms have a legal obligation to supervise their registered representatives, and a failure to do so can result in liability for the firm.
Multiple Outside Business Activities
Strunc’s numerous outside business activities, particularly those requiring significant time commitments, raise questions about his ability to devote sufficient attention to client accounts. The 40-50 hours per week he reportedly spends on “Sunrise Wealth Advisors,” combined with time spent on his restaurant business (during trading hours), could potentially impact his ability to monitor investments and respond to market changes in a timely manner.
Legal and Regulatory Framework: Understanding Your Rights
Financial advisors like David Isaiah Strunc are subject to numerous regulations designed to protect investors. Understanding these rules can help you determine if your advisor may have violated their legal and ethical obligations:
Regulation Best Interest (Reg BI)
Implemented in June 2020, Regulation BI requires broker-dealers and their associated persons to act in the best interest of retail customers when making recommendations concerning securities transactions or investment strategies. This includes obligations related to disclosure, care, conflict of interest, and compliance.
FINRA Rule 2111: Suitability
This rule requires that a broker have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile. This profile includes factors such as age, financial situation, tax status, investment objectives, and risk tolerance.
FINRA Rule 2010: Standards of Commercial Honor
This foundational rule requires brokers to “observe high standards of commercial honor and just and equitable principles of trade” in their business dealings. It serves as a catch-all provision that covers a wide range of unethical conduct.
FINRA Rule 3110: Supervision
This rule requires brokerage firms to establish and maintain a system to supervise the activities of their registered representatives. Firms must have written procedures reasonably designed to achieve compliance with applicable securities laws and regulations.
Investment Advisers Act of 1940
As an investment adviser representative, Strunc is subject to the fiduciary standard established under this Act, which requires him to act in the best interests of his clients, avoid conflicts of interest, and make full disclosure of all material facts.
Guidance for Investors Potentially Affected by the David Isaiah Strunc Investigation
If you are or were a client of David Isaiah Strunc and have concerns about your investments, consider taking the following steps:
1. Review Your Account Statements and Investment Documents
Carefully examine your account statements, investment purchase confirmations, and other related documents. Look for investments in equity securities and unit investment trusts, as these were specifically mentioned in the pending complaint. Also watch for unusual account activity, significant losses, or investments that don’t align with your stated investment objectives and risk tolerance.
2. Evaluate the Suitability of Your Investments
Consider whether the investments recommended by Strunc were appropriate for your financial situation, investment objectives, and risk tolerance. Ask yourself:
- Were the risks of these investments fully explained to you?
- Do these investments align with your financial goals and time horizon?
- Were you pressured to make investment decisions quickly?
- Were lower-cost alternatives with similar risk-return profiles discussed?
3. Document All Communications
Gather and preserve all communications with Strunc, including emails, letters, text messages, and notes from in-person meetings or phone conversations. This documentation can serve as crucial evidence if you decide to pursue a claim.
4. Understand the Statute of Limitations
Be aware that there are time limits for filing claims related to investment losses. FINRA arbitration claims generally must be filed within six years of the event giving rise to the dispute. However, state laws may provide different limitations periods for certain types of claims. Consulting with an attorney promptly can help ensure you don’t lose your rights due to missed deadlines.
5. Be Aware of Other Business Activities
If Strunc recommended investments related to any of his outside business activities, this could represent a conflict of interest that should have been disclosed. Pay particular attention to any investments that might be connected to “Sunrise Wealth Advisors” or his other business ventures.
6. Seek Independent Professional Advice
Consider consulting with an independent financial advisor who can provide an objective assessment of your investments and their suitability for your financial situation. Additionally, an experienced securities fraud attorney can evaluate your case and advise you on potential legal remedies.
How Our Securities Fraud Attorneys Can Help
Our law firm specializes in representing investors who have suffered losses due to broker misconduct, including breach of fiduciary duty, unsuitable recommendations, and Regulation BI violations. We offer:
Comprehensive Case Evaluation
Our securities attorneys will conduct a thorough review of your investment documents, account statements, and communications with your broker to identify potential violations and quantify your losses.
FINRA Arbitration Representation
Most disputes with brokers are resolved through FINRA arbitration rather than court litigation. Our attorneys have extensive experience representing clients in FINRA arbitration proceedings and navigating this specialized forum.
Expert Financial Analysis
We work with financial experts who can analyze your portfolio to determine whether the investments recommended were suitable for your financial situation and objectives, and whether more appropriate alternatives were available.
Contingency Fee Structure
We typically handle investment fraud cases on a contingency fee basis, meaning you pay no legal fees unless we recover money for you. This aligns our interests with yours and makes legal representation accessible regardless of your current financial situation.
Knowledge of Broker-Dealer Obligations
Our attorneys understand the complex web of regulations governing broker-dealers and investment advisers. We can identify when firms have failed to properly supervise their representatives or have other liability for your losses.
Recovery from Multiple Sources
If appropriate, we can pursue claims not only against the individual advisor but also against the brokerage firm that employed them, potentially increasing your chances of financial recovery.
Don’t wait until it’s too late to protect your financial future. If you’ve suffered investment losses while working with David Isaiah Strunc or any other financial advisor, contact our experienced securities fraud attorneys today. Call 800-950-6553 or complete our online form to schedule your confidential, no-obligation consultation and learn how we can help you recover your investment losses.
