Mike Morrison: $100K Complaint Against Morrison Financial Advisor

A recent investor complaint against Highland Village, Texas financial advisor Mike Morrison (CRD# 1730240) alleges that he misrepresented and recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Centaurus Financial, doing business as Morrison Financial.

Mr. Morrison’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2025, alleges that as a Centaurus Financial representative, he misrepresented and recommended “unsuitable, high-risk illiquid investments” in real estate securities. The pending investor complaint alleges damages of $100,000.

In a statement included with the pending complaint’s disclosure, Mr. Morrison denied the allegations and described them as meritless. “The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment,” he wrote further. “The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

An earlier investor complaint, filed in 2023, alleged that as a Centaurus Financial representative, he breached his fiduciary duty to the customer “by failing  properly tender a pension rollover check causing the customer to incur tax liabilities.” The complaint reached a settlement of $14,999.

According to the Financial Industry Regulatory Authority, Mike Morrison holds 37 years of securities industry experience. Based in Highland Village, Texas, he has been registered as a broker and an investment advisor with Centaurus Financial since 1996 and 2012, respectively, doing business as Morrison Financial. He was previously registered with PFS Investments in Duluth, Georgia from 1987 until 1996. His credentials include the passage of six securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the Investment Company Products/Variable Contracts Principal Examination, or Series 26. He holds 35 state licenses. (Information current as of August 27, 2025.)

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