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Academy Financial Advisor Michael McFeeley: Oil & Gas Complaint
York, Pennsylvania financial advisor Michael McFeeley (CRD# 5505995) recently received an investor complaint alleging his recommendations led to losses. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Academy Financial, offering securities through Lincoln Financial Advisors Corporation.
Mr. McFeeley’s BrokerCheck report discloses one investor complaint. Filed in March 2022, it alleges that he recommended an unsuitable oil and gas investment. The pending complaint alleges unspecified damages believed to exceed $5,000.
For reference, FINRA rules require brokers-dealers and their representatives, like Mr. McFeeley, to follow the suitability standard. As outlined by FINRA Rule 2111, this rule states that they may only recommend their customers invest in products and strategies that are appropriate for the customers’ individual investment profiles. This includes factors such as the client’s investment goals, investment experience, liquidity needs, age, net worth, risk tolerance, and income. The suitability standard is similar to but distinct from the fiduciary standard followed by investment advisers, which requires placing the investor’s interests above the adviser’s.
According to the Financial Industry Regulatory Authority, Michael McFeeley holds 14 years of securities experience. Based in York, Pennsylvania, he is a representative of Academy Financial, which offers securities through Lincoln Financial Advisors Corporation. He has bene registered with Lincoln Financial Advisors as a broker and an investment advisor since 2008. His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He holds 47 state licenses. (Information current as of June 29, 2022.)
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.