David Edwin Alvarado, of New York, New York, a stockbroker formerly associated with SW Financial, also known as Saloman Whitney LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim. The customer seeks $30,000.00 in damages based upon allegations that Alvarado engaged in unsuitable, excessive, and unauthorized trading, and displayed negligence in connection with the sale of stocks and other over-the-counter equities. FINRA Arbitration No. 22-02586 (November 10, 2022).
Problem is that FINRA expelled SW Financial on May 12, 2023. Nothing comes to those that wait, and in other news, both Salomon Smith Barney and Salomon Brothers, although unrelated, are also no longer in business.
In any event, this is not the first time that Alvarado has been referenced in a customer initiated investment related dispute concerning his conduct in the securities industry. FINRA Public Disclosure shows that Alvarado is also referenced in another customer initiated investment related FINRA securities arbitration claim that is currently pending. The customer seeks $59,602.15 in damages based upon allegations that Alvarado engaged in churning, engaged in unsuitable and unauthorized trading, was negligent, breached a contract, and defrauded the customer while he was associated with Worden Capital Management LLC. FINRA Arbitration No. 22-00347 (March 21, 2022).
Alvarado has been associated with PHX Financial Inc. in New York, New York since April 28, 2023.
Prior to that, he was associated with SW Financial in New York, New York from December 10, 2019, to March 21, 2023. FINRA expelled SW Financial on May 12, 2023.
Before his association with SW Financial, Alvarado was associated with Worden Capital Management LLC in New York, New York from May 17, 2019, to December 10, 2019. FINRA also expelled Worden Capital Management LLC on July 25, 2022.