David Glienke Allegedly Misrepresented Investment

David Glienke (CRD# 5502866[1]), a broker registered with Western International Securities, recommended unsuitable investments, according to an investor dispute. MDF Law is investigating the Westlake Village, California-based financial professional, who does business as ClearCoast Wealth Management, for similar conduct. If you have concerns about your accounts, call us for a free consultation with an attorney.

To learn more about the disputes involving Mr. Glienke, continue reading this post. The information below is based on a November 6, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record. 

Pending Disputes Allege Misrepresentation

Two parties of investors filed disputes involving Mr. Glienke between 2023 and 2024. One dispute lays out allegations that he made a misleading and unsuitable investment recommendation; the other, that he misrepresented an investment. Both relate to corporate bond investments. Between them, the claims seek $300,000 in alleged damages.

Brokers May Not Mislead Investors

Misrepresentation occurs when brokers like Mr. Glienke provide false or misleading disclosures regarding an investment recommendation. The misrepresentation of material information—that is, information which poses a significant consideration to investors—generally violates FINRA Rule 2020[2]. This rule prohibits them from employing “any manipulative, deceptive or other fraudulent device or contrivance” in the course of executing securities transactions. Misrepresentations may lead investors to make unsuitable[3] investments, which may in turn expose them to the risk of severe losses.

What Is ClearCoast Wealth Management?

As his BrokerCheck record reflects, Mr. Glienke does business under the brand ClearCoast Wealth Management. That firm’s website features a section outlining the firm’s “difference[4]” compared to other companies. “At ClearCoast Wealth Management, we believe that sound financial planning is incredibly beneficial,” it reads. “Our Mission is to understand your unique circumstances and aspirations to help you build a sound strategy to guide you in reaching your financial goals.”

FINRA: David Glienke Based in Westlake Village, California

Mr. Glienke launched his career as a broker in 2008, when he registered with Financial West Group in Reno, Nevada. Later that year he departed the firm for Western International Securities. He remains at WIS today, based at its branch office in Westlake Village, California. With 16 years of experience as a broker, he has completed four industry exams, including the Series 66 and the Series 24. 

MDF Law Can Help You Recover Losses

Do you have concerns about investments recommended by David Glienke? You may be able to recover losses, especially if your portfolio included unsuitable investments whose features weren’t fully disclosed. To discuss your options, call MDF Law at 800-767-8040 to chat with an experienced investment fraud attorney[5]. Our attorneys take cases on contingency and offer free consultations across the US. You may have limited time to file a claim, so don’t delay: please call MDF Law today.