Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into David Richard Geake, a former stockbroker who most recently worked with American Trust Investment Services, Inc. in Northbrook, Illinois. If you invested with Mr. Geake and experienced losses or have concerns about your investments, you may have options for recovery.
Understanding David Richard Geake’s Background
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David Richard Geake (CRD# 3088891) worked in the securities industry for several years before his registration ended in May 2023. Throughout his career, he was associated with multiple brokerage firms, including:
- American Trust Investment Services, Inc. (most recent)
- Ausdal Financial Partners
- Madison Avenue Securities
Mr. Geake is no longer registered as a broker, which means he cannot currently conduct securities transactions or provide investment advice in a professional capacity. This change in registration status often raises questions for investors who may have ongoing concerns about their accounts or past investments.
Red Flags and Investor Concerns
When evaluating any financial advisor’s background, investors should be aware of several important warning signs that may indicate potential issues:
1. Registration Status Changes
The fact that Mr. Geake is no longer registered as of May 2023 deserves attention. When a broker’s registration ends, it could be voluntary or involuntary. Either way, investors who worked with him should review their accounts carefully.
2. Multiple Firm Associations
Moving between different brokerage firms isn’t necessarily problematic, but frequent changes can sometimes indicate underlying issues. Each firm change represents a transition that could affect client accounts and investment strategies.
3. Lack of Current Registration
Since Mr. Geake is not currently registered, investors may face challenges in addressing any ongoing concerns about their investments or obtaining information about their accounts.
Regulatory History and Complaints
Based on available public records through FINRA BrokerCheck, investors should be aware of any regulatory actions, customer complaints, or disciplinary events that may appear on a broker’s record. These records are crucial for understanding a financial advisor’s professional history.
When reviewing any broker’s background, pay particular attention to:
| Type of Issue | Why It Matters |
|---|---|
| Customer Disputes | May indicate pattern of problematic investment recommendations |
| Regulatory Actions | Shows violations of industry rules or regulations |
| Employment Separations | Could suggest compliance or performance issues |
| Financial Disclosures | May affect broker’s ability to handle client funds properly |
Common Investment Issues to Watch For
If you worked with David Richard Geake, consider reviewing your accounts for these common investment problems:
- Unsuitable Investments: Were your investments appropriate for your age, risk tolerance, and financial goals?
- Excessive Trading: Did your account experience unusually high trading activity that generated significant commissions?
- Concentration Issues: Was too much of your portfolio invested in a single stock, sector, or investment type?
- Misrepresentations: Were the risks of investments clearly explained to you?
- Unauthorized Trading: Were trades made without your knowledge or consent?
Steps to Protect Your Investments
If you have concerns about your investments with David Richard Geake, taking prompt action is essential. Here’s what you should do:
- Gather Your Documents: Collect all account statements, trade confirmations, and correspondence
- Review Your Losses: Calculate any investment losses you may have experienced
- Document Communications: Keep records of all interactions with your broker
- Seek Professional Help: Consult with an experienced investment fraud attorney
Your Rights as an Investor
Investors have important rights when they’ve been harmed by investment misconduct. The securities industry is heavily regulated, and brokers must follow strict rules designed to protect investors. When these rules are violated, investors may be entitled to recover their losses through FINRA arbitration.
Time limits apply to filing claims, so it’s crucial to act quickly if you suspect any wrongdoing. The statute of limitations for most securities claims is six years from the date of purchase or three years from when you discovered or should have discovered the misconduct.
Why Choose Haselkorn & Thibaut
Haselkorn & Thibaut (InvestmentFraudLawyers.com) brings over 50 years of combined experience in securities law to help investors recover losses. With a 98% success rate and millions recovered for clients nationwide, the firm has the knowledge and resources to evaluate your case thoroughly.
The firm operates on a “No Recovery, No Fee” basis, meaning you don’t pay unless they successfully recover money for you. This arrangement ensures that all investors, regardless of their financial situation, can access quality legal representation.
Take Action Today
If you invested with David Richard Geake through American Trust Investment Services, Inc., Ausdal Financial Partners, Madison Avenue Securities, or any other firm, and you have concerns about your investments or experienced losses, don’t wait to seek help.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation. Their experienced team will review your situation, explain your options, and help you understand your rights as an investor. Remember, there’s no cost for the consultation, and you won’t pay any fees unless they recover money for you.
Investment losses can be devastating, but you don’t have to face this situation alone. With the right legal guidance, you may be able to recover your losses and move forward with confidence. Call 1-888-885-7162 now to learn more about your options.
