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    David Swanson

    Financial Advisor

    David Swanson is a financial advisor based in Lake Oswego, Oregon, and is the president and sole owner of Swanson Financial Services, Inc. His firm has been involved in providing financial planning and wealth management services, particularly for clients nearing retirement. However, Swanson's professional reputation has been significantly impacted by serious regulatory issues.

    Regulatory Issues

    In early 2023, the Oregon Division of Financial Regulation issued an order to revoke both Swanson's investment adviser and insurance licenses. This action was taken due to allegations of unlawful practices, specifically involving the sale of promissory notes to clients without adequate disclosure. Swanson reportedly borrowed money from clients to pay back other clients, a practice that is prohibited for investment advisers.12 The investigation revealed that he sold over $1.5 million in promissory notes to clients aged 64 to 77 without informing them of the risks or the true nature of the investments.2 As a result of these violations, civil penalties were assessed against him, totaling up to $160,000.2

    Current Status

    Following these events, Swanson's ability to operate as an investment adviser has been severely restricted. The regulatory body has barred him from applying for or renewing any investment adviser or related licenses in Oregon.12 This situation has led to significant scrutiny of his business practices and raised concerns about his compliance with financial regulations.

    Business Overview

    Swanson Financial Services was founded in 1996 and is described as an independent retirement planning firm. It aimed to cater to the financial needs of clients in the Pacific Northwest through a fee-based model.3 However, due to recent developments, potential clients may want to exercise caution and conduct thorough research before engaging with his services.

    In summary, David Swanson's professional standing as a financial advisor is currently marred by serious legal and ethical challenges stemming from his business practices at Swanson Financial Services.

    Highlights

    [PDF] DAVID DOUGLAS SWANSON SR - SEC.gov
    Feb 15 · wweek.com
    Feds to Seize the Lake Oswego Office Building of Disgraced Wealth ...
    Feb 2 · dfr.oregon.gov
    State issues order to revoke licenses of Lake Oswego investment ...
    Nov 26 · yelp.com
    SWANSON FINANCIAL SERVICES - Lake Oswego, OR - Yelp
    SWANSON FINANCIAL SERVICES - Lake Oswego, OR - Yelp

    Related Questions

    What were the specific violations that led to the revocation of David Swanson's licenses?
    How did David Swanson respond to the allegations against him?
    What impact did the revocation of Swanson Financial Services' licenses have on its clients?
    Are there any legal actions being taken against David Swanson or his companies?
    How can clients of Swanson Financial Services protect their investments?
    David Swanson
    David Swanson, photo 1
    David Swanson, photo 2
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    Location

    Lake Oswego, Oregon