Last Updated: October 2024 (San Diego, California)
Marc Clinton Davis Financial Advisor Investigation
National securities fraud lawyers Patil Law P.C. are investigating broker Marc Clinton Davis (CRD #2087050), currently employed by HoyleCohen, LLC in San Diego, California. Davis has been involved in a pending customer dispute relating to unsuitable investment recommendations in real estate security. Investors should be aware of these concerns before deciding to work with this broker.
Marc Clinton Davis (CRD #2087050) is a financial advisor with over 30 years of experience, currently employed by HoyleCohen, LLC in San Diego, California. However, his career has been marred by a significant pending customer dispute involving allegations of unsuitable investment recommendations, raising concerns for potential investors. Below, we provide further details on these allegations and other important information.
Critical Insights About San Diego, CA Stockbroker Marc Clinton Davis:
- Advisor Name: Marc Clinton Davis
- CRD Number: 2087050
- Location: San Diego, CA
- Current Employer: HoyleCohen, LLC
- Classification: Stockbroker + Financial Advisor
- Can Marc Clinton Davis be sued in private FINRA arbitration?: Yes
- Has Mr. Davis been sanctioned by FINRA?: No
- Pending Customer Dispute: Yes, Alleging $1,306,374 in damages
If you have suffered investment losses handled by Marc Clinton Davis, we strongly encourage you to exercise your rights to experienced legal representation. Contact the legal team at Patil Law P.C. at (800) 950-6553.
Lost Money With Stockbroker Marc Clinton Davis?
A customer of LPL Financial LLC has alleged that Marc Clinton Davis made an unsuitable investment recommendation in real estate security. The customer claims losses of $1,306,374. The dispute, filed on July 6, 2023, is currently pending before FINRA arbitration (Docket/Case #23-01922).
Allegations of Broker Misconduct Against Marc Clinton Davis
Customers have alleged the following wrongdoing in connection with the handling of their accounts:
- Unsuitable Investment Recommendations: The primary allegation involves the sale of an unsuitable Tenants-In-Common investment in 2007. The claimant asserts that this recommendation resulted in significant financial losses.
Brokers and their firms must comply with FINRA Rule 2111 (Suitability), which requires brokers to have a reasonable basis to believe that a recommended investment is suitable for a customer based on their investment profile.
Broker Experience Summary
Marc Clinton Davis (CRD #2087050) has been active in the financial services industry since 1990, building a career as a stockbroker and financial advisor. He is currently registered with HoyleCohen, LLC in San Diego, California. Over the years, Davis has passed several key industry exams, including the Series 7 – General Securities Representative Examination and the Series 63 – Uniform Securities Agent State Law Examination, allowing him to operate as a securities agent in multiple states. Davis has worked for several well-known financial firms, including LPL Financial LLC, where he was employed for over 18 years.
Throughout his career, Davis has held licenses in various states, providing advisory and brokerage services to clients. While he has built a long-standing career, Davis’s record has been impacted by customer disputes involving allegations of unsuitable investment recommendations. Despite these challenges, he continues to operate in the financial industry with HoyleCohen, LLC.
Negative Disclosures and Customer Disputes
Marc Clinton Davis has been involved in one pending customer dispute related to alleged misconduct:
- Customer Dispute (2023): A customer filed a complaint on July 6, 2023, alleging that Davis made an unsuitable investment recommendation in real estate securities, leading to losses of $1,306,374. This dispute is currently pending before FINRA arbitration (Docket/Case #23-01922), and no outcome has been determined as of yet.
There have been no other reported customer disputes, terminations, or tax liens involving Marc Clinton Davis.
Allegations and Accusations
Marc Clinton Davis faces the following allegations:
- Unsuitable Investment Recommendations: The key allegation centers around the recommendation of a Tenants-In-Common real estate security in 2007, which the claimant asserts was not suitable for their financial profile. This resulted in significant financial losses, leading to the pending customer dispute.
These actions may represent potential violations of FINRA Rule 2111 (Suitability), which governs the appropriateness of investment recommendations for clients based on their individual investment profiles.
FINRA Rule 2111, the Suitability Rule, requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s financial situation, needs, and investment profile. This rule covers the three key obligations: reasonable-basis suitability (the recommendation must be suitable for at least some investors), customer-specific suitability (the recommendation must be appropriate for that particular customer), and quantitative suitability (ensuring that the number of recommended transactions is not excessive). Related rules include FINRA Rule 2090, the Know Your Customer Rule, which mandates that brokers understand their clients’ investment profiles to provide suitable advice.
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have suffered investment losses in an account handled by Marc Clinton Davis or have a question about the performance of your account, please contact Attorney Patil online or (800) 950-6553 for a free initial consultation.
Our cases are handled on a contingency basis. We don’t get paid unless we win for you.
