Shawn Bruce Davis of Auburn, California, a stockbroker formerly registered with Independent Financial Group, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought compensatory damages supported by accusations that REIT and interval fund transactions effected in the customer’s account by Davis were unsuitable for the customer during the time that Davis was employed by Independent Financial Group. FINRA Arbitration No. 21-02208 (August 27, 2021).
FINRA Public Disclosure shows that Davis has been identified in fourteen additional customer initiated investment related disputes regarding allegations of his wrongdoing while he was registered with Berthel Fisher Company Financial Services Inc., WFG Investments Inc., Royal Alliance Associates, and Independent Financial Group.
Davis is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $200,000.00 in damages supported by accusations that Davis placed the customer in non-traded REITs, among other investments that were not suitable for the customer during the time that Davis was registered with Berthel Fisher and IFG. FINRA Arbitration No. 20-00282 (January 27, 2020).
On June 22, 2020, another customer filed an investment related FINRA securities arbitration claim involving Davis’ conduct in which the customer sought between $100,000.00 and $500,000.00 in damages founded on allegations of Davis’ unsuitable and misrepresented sales as it pertained to real estate securities, equipment leasing securities, oil and gas securities, and direct investments. FINRA Arbitration No. 20-01898.
On December 28, 2020, a different customer initiated investment related FINRA securities arbitration claim regarding Davis’ activities was settled for $210,000.00 in damages based upon allegations of misrepresentation and unsuitable trading by Davis while he was associated with Berthel Fisher Company. FINRA Arbitration No. 18-01268. According to the claim, Berthel Fisher failed to supervise real estate security, oil and gas security, and alternative investment transactions set up by the stockbroker.
Davis is also referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested compensatory damages founded on accusations of Davis causing the customer to experience losses on non-traded REITs and direct investments. FINRA Arbitration No. 21-01491 (June 14, 2021). According to the claim, the customer’s account was overconcentrated in those investments.
On August 30, 2021, an additional customer initiated investment related FINRA securities arbitration claim concerning Davis’ conduct was settled for $15,000.00 in damages based upon accusations of unsuitable real estate investment trusts as well as direct investments, including limited partnerships and direct participation programs through Davis at WFG Investments, Bethel Fisher, and IFG. FINRA Arbitration No. 20-01637.
Davis was registered with Independent Financial Group between February 20, 2014, and May 2, 2017.
