Dave Taddeo, a financial advisor in La Mesa, faces serious claims from investors. Taddeo works with LPL Financial and Summit Wealth Solutions. His CRD number is 1163829. In December 2023, an investor said Taddeo caused $124,167 in losses.
The investor claims Taddeo suggested bad investments and broke his duty to help clients. This is not the first time Taddeo has faced such issues. From 2002 to 2020, he dealt with four other complaints.
These led to payments of nearly $979,249 to investors. Taddeo has worked in finance for 26 years. He’s been with LPL Financial since 2000 and holds licenses in 41 states. Other LPL advisors like John Demertzis and Doug Nelson also face investor complaints.
Haselkorn & Thibaut helps investors file claims against financial advisors. They offer free consultations to people who think they lost money due to bad advice. Investors of Dave Taddeo at Summit Wealth can call 1-888-885-7162 .
This story goes deeper than you might think.
Key Takeaways
Table of Contents
- Dave Taddeo of Summit Wealth Solutions faces a new $124,167 investor complaint from December 2023 for unsuitable investment advice.
- Taddeo has settled past complaints totaling over $979,000, mostly related to variable annuity products in 2020.
- With 26 years in the securities industry and licenses in 41 states, Taddeo works with LPL Financial and has passed five key industry exams.
- Haslkorn & Thibaut offers free consultations to investors who lost money and helps file claims against financial advisors nationwide by calling 1-888-885-7162 .
Allegations and Settlements: Dave Taddeo Summit Wealth Complaints
Dave Taddeo faces serious claims from investors. A recent complaint alleges he made unsuitable investment recommendations.
Dave Taddeo’s CRD number and affiliation with LPL Financial
Dave Taddeo operates under the name Summit Wealth Solutions in La Mesa, California. His Central Registration Depository (CRD) number is 1163829. Taddeo is currently affiliated with LPL Financial, a well-known broker-dealer firm.
Investor protection is paramount in the financial industry.
This affiliation allows Taddeo to offer various financial services to clients through LPL’s platform. Recent investor complaints have surfaced against Taddeo, raising questions about his practices.
Recent investor complaint and allegations
A recent complaint against Dave Taddeo surfaced in December 2023. The investor claimed Taddeo suggested an unsuitable private securities deal. This action allegedly broke his duty to act in the client’s best interest.
The complaint seeks $124,167 in damages. Such claims point to possible issues with Taddeo’s investment advice. The next section will explore Taddeo’s work history in the securities field.
Previous investor complaints and settlements
Moving from recent allegations, we now examine past complaints against Dave Taddeo and Summit Wealth. Several investor grievances resulted in significant settlements:
| Year | Allegation | Settlement Amount |
|---|---|---|
| 2020 | Misrepresented terms of variable annuity income benefit | $249,624 |
| 2020 | Misrepresentation of variable annuity investment | $325,000 |
| 2020 | Misleading advice on variable annuity product | $289,625 |
| 2002-2004 | Delays and termination of profit-sharing plan | $115,000 |
These settlements total over $979,000 paid to investors. The complaints show a pattern of issues with variable annuity products. Taddeo’s firm faced multiple grievances in 2020 alone. The 2002 complaint took two years to resolve.
Taddeo’s Professional Background
Dave Taddeo has worked in securities for many years. He’s passed several industry exams and holds licenses in multiple states.
Experience in the securities industry
Dave Taddeo has spent 26 years working in securities. He started as a broker with LPL Financial in 2000. Taddeo became an investment advisor two years later in 2002. His long career shows his deep knowledge of financial markets and investing.
Taddeo holds licenses in 41 states across the U.S. This wide reach allows him to serve clients in many areas. His extensive experience and broad licensing reflect his established presence in the industry.
With 26 years in securities and licenses in 41 states, Dave Taddeo has built a far-reaching career in financial advising.
Previous registrations and securities industry qualifying exams
Dave Taddeo has a solid background in the securities industry. He worked at Financial Network Investment Corporation from 1998 to 2000 and American Pacific Securities Corporation from 1983 to 1984.
Taddeo passed five important securities industry exams. These include the Series 24 (General Securities Principal), Series 7 (General Securities Representative), SIE (Securities Industry Essentials), Series 63 (Uniform Securities Agent State Law), and Series 65 (Uniform Investment Adviser Law).
These exams show Taddeo’s broad knowledge of securities rules and practices. His past work at different firms and exam success suggest he has deep industry experience. This background is key for financial advisors at firms like Summit Wealth Management.
State licenses held
Moving from exams to licenses, Dave Taddeo’s qualifications extend across numerous states. His credentials allow him to operate in a wide range of markets.
| License Type | Number of States |
|---|---|
| State Securities Licenses | 41 |
Taddeo’s broad licensing enables him to serve clients in most of the United States. This extensive coverage shows his commitment to meeting regulatory standards in many jurisdictions. His multi-state licensing aligns with his affiliation to LPL Financial, a large broker-dealer. These licenses support Taddeo’s ability to offer financial services across a wide geographic area.
Haselkorn & Thibaut and Investor Representation
Haselkorn & Thibaut (InvestmentFraudLawyers.com) helps investors with complaints against financial advisors.
The firm free consultations to investors who have lost money. They help people file claims against financial advisors and investment firms nationwide. Their lawyers focus on getting settlements for clients who suffered investment losses.
Affected individuals can reach out to Haselkorn & Thibaut for help. The firm offers a free, confidential consultation to discuss potential claims. Investors can call 1-888-885-7162 to speak with an attorney about their situation.
For those who prefer online contact, a form is available on the firm’s website.
Conclusion
Dave Taddeo’s case shows the risks in financial advice. Investors must stay alert and check their advisor’s history. Haselkorn & Thibaut offers help for those who’ve lost money due to bad advice.
Taking action can protect your savings and hold advisors accountable. Have you reviewed your investments lately? Don’t wait to seek help if something seems off. Your financial future is worth fighting for, so stay informed and proactive.
