Published on:

Michael Speer Has Received Three Customer Complaints

Michael SpeerPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 11, 2018 indicate that former Colorado-based Cambridge Investment Research broker/adviser Michael Speer has received customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Speer (CRD# 2414155).

Michael Speer has spent 23 years in the securities industry and was most recently registered with Cambridge Investment Research in Greenwood Village, Colorado (2012-2018). Previous registrations include Presidential Brokerage in Greenwood Village, Colorado (1996-2012) and Chatfield Dean & Company in Greenwood Village, Colorado (1995-1996). He has passed five securities industry examinations: Series 5 (Uniform Investment Adviser Law Examination), which he obtained on September 17, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 5, 1995; Series 7 (General Securities Representative Examination), which he obtained on December 28, 1994; Series 4 (Registered Options Principal Examination), which he obtained on November 26, 1999; and Series 24 (General Securities Principal Examination), which he obtained on March 31, 1995. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received three customer complaints and two denied customer complaints.

In 2017 a customer alleged Michael Speer, while employed at Cambridge Investment Research, failed to properly explain the illiquidity of certain real estate investment trust products, forged a signature, and assessed improper fees. The customer sought $10,000 in damages in the complaint, which was denied.

In 2014 a customer alleged Michael Speer, while employed at Cambridge Investment Research, breached his fiduciary duty and acted negligently. The complaint settled for $30,000.

In 2014 a customer alleged Michael Speer, while employed at Presidential Brokerage, made unsuitable investment recommendations, committed fraud, made misleading statements and misleading omissions of material facts, breached his fiduciary duty, negligently misrepresented material facts, acted negligently, and breached contract in connection to tenant-in-common 1031 exchange programs. The complaint settled for $87,500.

In 2014 a customer alleged he, while employed at Cambridge Investment Research, misled her and failed to disclose material facts related to certain investments, and failed to provide her with a contract. The customer sought $93,000 in damages in the complaint, which was denied.

If you have lost money investing with Michael Speer, you may be entitled to recoup your losses. Call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect a recovery. Time to file your claim may be limited by law, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.