David John Stull of Stockton California is a stockbroker formerly registered with Hornor Townsend and Kent Inc. who has been fired on October 31, 2016 based upon accusations that he (1) improperly handled checks from customers (2) failed to abide by the firm’s financial planning procedures (3) failed to disclose an outside business activity and (4) violated the firm’s procedures concerning the use of marketing materials and customer account documentation.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Stull has been identified in two more customer initiated investment related disputes pertaining to allegations of his misconduct during the time he was associated with Hornor, Townsend & Kent, Inc. In particular, on April 29, 2015, a customer initiated investment related written complaint that concerned Stull’s conduct was settled for $6,032.00 in damages based upon accusations that Stull misled the customer in reference to a fee-based financial advisory arrangement; made unsuitable recommendations to the customer in regard to insurance policies; and generated a substantial commission by selling a policy to the customer that the customer did not want.
Subsequently, on April 21, 2017, a customer initiated investment related written complaint regarding Stull’s activities was resolved for $28,000.00 in damages supported by allegations that Stull neglected to apprise the customer about the risks pertaining to an insurance product and caused the customer to incur undue tax liabilities.
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