Michael Fisher: Ex-Ameriprise Advisor Lands $1mm Complaint

Melville, New York financial advisor Michael Fisher (CRD# 4056114) recently received an investor complaint alleging that his advice and trading activity resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he was last registered as a broker with Ameriprise Financial Services.

Mr. Fisher’s BrokerCheck report discloses seven investor complaints. The most recent, filed in September 2026, alleges that as a representative of Ameriprise Financial Services, he made unsuitable trades in the customers’ discretionary investment accounts, failed to act in their best interests, made misrepresentations regarding account performance, failed to disclose material tax consequences, breached his fiduciary duty, and improperly managed the discretionary accounts. The pending complaint alleges damages between $500,000 and $1,000,000.

A second investor complaint, filed in 2023, alleged that as a representative of UBS Financial Services, he made unsuitable and unauthorized trades. The complaint reached a settlement of $7,000.

A third complaint, filed in 2023, similarly alleged that as a Wells Fargo representative, he made unauthorized and unsuitable transactions. The complaint reached a settlement of $25,000.

A fourth complaint, filed in 2017, alleged that as a Wells Fargo advisor, he made unsuitable recommendations and misrepresented unit investment trust products. The complaint reached a settlement of $100,000.

For reference, the execution of unauthorized transactions may violate FINRA Rule 3260, which establishes specific conditions in which brokers like Mr. Fisher may conduct trading without first consulting their client. Unauthorized trading may also violate FINRA Rule 2010, which stipulates that brokers must “observe high standards of commercial honor and just and equitable principles of trade.” A third important rule investors should be aware of is FINRA Rule 2020, which states that no broker may “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who execute unauthorized trades may be held liable for damages and/or subject to disciplinary action.

According to the Financial Industry Regulatory Authority, Michael Fisher holds 25 years of securities industry experience. Most recently based in Melville, New York, he was registered as a broker with Ameriprise Financial Services from 2016 until 2026. His past registrations include Wells Fargo Advisors, UBS Financial Services, Merrill Lynch, and Citigroup Global Markets. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of October 4, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.