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David Phillips Formerly With Moloney Securities Co., Inc. And Proequities, Inc. Has 2 Customer Complaints For Alleged Broker Misconduct

Who is David Phillips formerly with Moloney Securities Co., Inc.?

David Phillips (CRD #3094195) who was formerly registered with Moloney Securities Co., Inc. and located in Gilbert, Arizona was suspended by FINRA participating in private securities transactions without prior disclosure to and the approval from his member firm. He is also a subject of one of our many securities industry sales practice abuse investigations.  Prior to Moloney Securities Co., Inc., David Phillips was associated with Proequities, Inc. and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

David Phillips Customer Complaints

David Phillips has been the subject of 2 customer complaints that we know about, 1 of those complaints was filed in the last year to recover investment losses. Both of David Phillips’ customer complaints were settled in favor of investors.

Allegations Against David Phillips

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Unsuitable recommendations related to structured cash flow products
  • Misrepresentation of investment in The Future Income Payments, Inc.

David Phillips Red Flags & Your Rights As An Investor

Of course, David Phillips did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of David Phillips at Moloney Securities Co., Inc. and Proequities, Inc. on alert to review carefully the activity and performance of their accounts and question whether David Phillips  has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Moloney Securities Co., Inc. and Proequities, Inc.  also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Moloney Securities Co., Inc. Due To David Phillips

If you have questions about Moloney Securities Co., Inc. and Proequities, Inc. and/or David Phillips and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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