David McDonald Wilson of Gulf Shores, Alabama, a stockbroker associated with Hancock Whitney Investment Services Inc., was the subject of a customer initiated investment related complaint that was settled on September 4, 2020, for $103,673.33 in damages based upon allegations that Wilson provided the customer with misleading information to encourage the purchase of a variable annuity.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Wilson was referenced in a customer initiated investment related complaint filed on August 16, 2015, in which the customer requested $164,000.00 in damages based upon allegations that Wilson failed to execute a trade when Wilson was associated with Hancock Investment Services Inc. This complaint was closed with no action on September 15, 2015.
Wilson was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $137,500.00 in damages based upon allegations that Wilson did not inform the customer about the tax consequences linked to certain annuity transactions during the time that Wilson was associated with Hancock Whitney Investment Services Inc. FINRA Arbitration No. 20-03430 (January 17, 2022).
On November 15, 2019, Hancock Whitney Investment Services Inc. permitted Wilson to resign amid an internal investigation into two matters involving retail customers. Customers claimed that they were not informed of the tax implications related to certain investment transactions. Furthermore, some information submitted by Wilson on firm documents might have been inaccurate or incomplete. According to Public Disclosure, the stockbroker is alleged to have potentially misrepresented transactions to both the firm and the customer.
Wilson became associated with Merrill Lynch Pierce Fenner Smith Incorporated in Mobile, Alabama, on November 15, 2019. Before that, he was associated with Hancock Whitney Investment Services Inc. in Gulf Shores, Alabama, from April 9, 2012, to December 12, 2019.