Michael Dellinger: Options Overlay Complaints Against UBS Advisor

Houston financial advisor Michael Dellinger (CRD# 4558550) has received multiple investor complaints alleging his conduct resulted in damages totaling more than $4 million. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with UBS Financial Services.

Mr. Dellinger’s BrokerCheck report discloses four investor complaints. The most recent, filed in November 2022, alleges that as a representative of UBS Financial Services, he made misrepresentations of material facts and unsuitable recommendations to invest in and hold an options overlay strategy. The pending complaint alleges damages of $1,580,000.

A second investor complaint, filed in October 2022, details similar allegations concerning an option overlay investment strategy in or around late 2016. The pending complaint alleges damages of $1,300,000.

A third complaint, filed in October 2022, also alleges that an options overlay strategy was misrepresented and unsuitable for the customer. The pending complaint alleges damages of $1,194,000.

A fourth complaint, filed in December 2019, makes the same allegations as the above-described three complaints: “unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.” The pending complaint alleges damages of $500,000.

According to the Financial Industry Regulatory Authority, Michael Dellinger holds 19 years of securities industry experience. Based in Houston, Texas, he has been a broker and an investment advisor with UBS Financial Services since 2009. He was previously registered with Morgan Stanley & Company in Houston from 2004 until 2009. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 29 state licenses. (Information current as of December 26, 2022.)

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