Edward Allen Davig of Holmen Wisconsin a stockbroker currently registered with Packerland Brokerage Services Inc. is referenced in a customer initiated investment related civil action which was settled for $32,500.00 in damages based upon accusations that Davig gave customers bad investment advice about illiquid alternative investments including oil and gas master limited purchases which declined considerably in value after being purchased for the customers’ accounts. Civil Action No. 18-CV-0020 (Jan. 23, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Davig has been identified in five additional customer initiated investment related disputes containing allegations of Davig’s misconduct during the period in which he was employed by David Financial Corporation and Triad Advisors Inc. Davig was subject of a customer initiated investment related arbitration claim where the customer was awarded $103,000.00 in damages according to an arbitration claim in which Davig had been found liable on the customer’s claims of contractual and fiduciary obligations to the customer being violated; the customer’s account being administered negligently; transactions violating Wisconsin Uniform Securities Act; and trades having been inappropriate for the customer. Contrary to the customer’s objectives for investing, Davig evidently inappropriately advised the customer to sell annuities and mutual funds and place proceeds in securities listed on NASDAQ.
An additional customer initiated investment related arbitration claim concerning Davig’s activities was resolved for $167,500.00 in damages supported by accusations that when Davig had been associated with David Financial Corporation and Triad Advisors Inc., the customer’s investment account was poorly managed which led the customer to suffer undue losses. Another customer initiated investment related arbitration claim in regard to Davig’s conduct has been settled for $32,500.00 in damages founded on allegations that Davig placed the customer in unsuitable variable annuity and mutual fund products while employed by Triad Advisors Inc. Davig is also the subject of a customer initiated investment related arbitration claim which was resolved for $135,000.00 in damages based upon accusations that unsuitable equity trades was effected in the customer’s account.
