Woodbury Financial Services Broker Daniel J. Dunn Under Investigation

Silver Law Group is investigating Woodbury Financial Services (“Woodbury”) broker Daniel J. Dunn (CRD# 3105100) for customer complaints filed with the Financial Industry Regulatory Authority (“FINRA”) against the broker.

According to Dunn’s FINRA BrokerCheck report, there are five customer complaints against him, four of which have settled for a total of $685,000.  The complaints against Dunn allege securities law violations such recommending unsuitable investments and misrepresentations among other claims.

One of the complaints, which has since been settled, was Dunn’s recommendation to a customer to borrow money against the customer’s family home to invest in an investment that was unsuitable for the customer.  According to the report, there are two complaints that allege those same facts, one settled in 2007 and the other settled almost a year later, but it is not clear whether or not the complaints arose out of the same situation.

Among other basic tenets, brokers are required to recommend suitable investments to their customers.  This requires that the broker 1) investigates and conducts due diligence into the investment’s properties including its benefits, risks, tax consequences, and other relevant factors to form a reasonable basis for the recommendation of the product; and 2) appropriately matches the investment with the customer’s specific investment needs and objectives, such as the customer’s retirement status, long or short-term goals, age, disability, income needs, or any other relevant factor.

Dunn entered the securities industry in 1998 and has bounced around multiple firms since then.  Among the seven firms that have employed Dunn since he entered the securities industry, he has worked the longest for Woodbury: 10 years in total.

If you have invested with Daniel J. Dunn and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to misconduct such as that alleged in Dunn’s BrokerCheck report.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.