David Lawrence Poulnot, of Daniel Island, South Carolina, a stockbroker currently registered with Lincoln Financial Securities Corporation, is referenced in a customer initiated investment related written complaint on March 2, 2020, where the customer sought compensatory damages founded on accusations of Poulnot failing to disclose the illiquidity of a real estate investment trust purchased by the customer when Poulnot was registered with Lincoln Financial Securities.
This is the second customer to have made accusations of Poulnot’s sales practice violations while with Lincoln Financial Securities Corporation. FINRA Public Disclosure shows that on October 20, 2016, a customer filed an investment related complaint regarding Poulnot’s activities. The customer sought compensatory damages supported by allegations that Poulnot made an unsuitable variable annuity sale when he was registered with Lincoln Financial Securities Corporation. According to the complaint, Poulnot also failed to advise the customer about the IRS penalties for taking distributions from their annuity.
Poulnot has been registered with Lincoln Financial Securities Corporation as a stockbroker and investment adviser representative since June 22, 2006.