Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 24, 2017 indicate that Virginia-based Wells Fargo Clearing Services broker/adviser Gregory Michael has been named in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Michael (CRD# 3059577).
Gregory Michael has spent eighteen years in the securiteis industry and has been registered with Wells Fargo Clearing Services in Winchester, Virginia since 2007. Previous registrations include Morgan Stanley & Company in Winchester, Virginia (2007) and Morgan Stanley DW in Winchester, Virginia (1998-2007). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), Series 63 (Uniform Securities Agent State Law Examination), Series 31 (Futures Managed Funds Examination) and Series 7 (General Securities Representative Examination). He is a registered broker and investment adviser with 21 US states and territories.
According to his BrokerCheck report, Gregory Michael has received one pending customer complaint.
In March 2017 a customer alleged Gregory Michael, while employed at Morgan Stanley & Company, recommended unsuitable mutual products. The customer is seeking $495,000 in damages in the pending complaint.
Mutual funds combine a collection of stocks, bonds, or other securities, a collection referred to as a portfolio. Each share of a portfolio represents the investor’s ownership of the fund’s holdings and the income generated by these holdings. Mutual funds typically generate money for investors either by way of dividends on stocks and interests on bonds, or a capital gain on the sale of securities. They also allow investors to receive checks for the distributions or simply reinvest the earning into more shares. Mutual funds are often inexpensive and easily purchased; they generally allocate risk well, and bring the benefit of professional management. They may, however, come with hidden fees, and trigger a capital gains tax when a security is sold. Investment representatives who unsuitably recommend mutual funds may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have lost money investing with Gregory Michael, you may be entitled to recoup your losses. Call 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 money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.