A Look at Broker David M. Smith's BrokerCheck
According to BrokerCheck, broker David Michael Smith Sr. (CRD# 850797) is currently registered at Ausdal Financial Partners Inc, in Vero Beach, Florida and was previously registered at Ausdal Financial Partners Inc, in Davenport, Iowa. According to BrokerCheck, Smith has had 6 customer disputes.
For example, a settled customer dispute from 2024 alleges breach of fiduciary duty, negligence, breach of contract, negligent supervision, violation of applicable laws and industry rules, and unsuitability. The claim alleges $220,000 in damages and settled for $21,000.
Another customer dispute alleges violation of federal and state securities law, breach of fiduciary duty, negligence, breach of contract, common law fraud, failure to supervise, misrepresentation and omission, unsuitability and failure to act in the client's best interest. The claim alleges $701,211.32 in damages and settled for $102,500.
A customer dispute from 2025 alleges breach of fiduciary duty, negligence and Reg BI, and failure to supervise. The alleged damages are $3,870,000 and the case is pending. Another pending dispute alleges violation of improper conduct, breach of fiduciary duties, negligence, breach of contract, negligent supervision, and violation of industry laws and rules, resulting in alleged damages of $258,205.
One last customer dispute alleges breach of fiduciary duties, violation of improper conduct, negligence, breach of contract, negligent supervision and violation of applicable laws and industry rules. The claim alleges $1,107,868 in damages.
We are a Chicago-based law firm with a national practice, representing investors nationwide in seeking to recover their investment losses. The firm continues to investigate brokerage firms and brokers who have placed elderly investors, retirees and other conservative investors in unsuitable investments.
We receive the highest rankings as attorneys for quality work and ethics. We successfully have filed numerous cases against brokerage firms that sold high-risk investments, recovering more than $50 million on behalf of victimized investors. In those cases, we allege that the investment recommendations were unsuitable for our clients based on their financial situation, needs, and investment objectives.
We offer free case evaluations and handle matters on a contingency fee basis-meaning you pay no attorney's fees unless we recover compensation for you. If you have incurred investment losses with David M. Smith and would like a securities attorney to evaluate your case, please contact us.
