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Read MoreIFSG Advisor Michael Ecker: GPB Complaint
Lake Worth, Florida financial advisor Michael Ecker (CRD# 824193) has received multiple investor complaints alleging his conduct resulted in damages as high as $200,000. Financial Industry Regulatory Authority records show that he is a broker with Center Street Securities, doing business as Insurance & Financial Services Group.
Mr. Ecker’s BrokerCheck report discloses several investor complaints. The most recent, filed in October 2022, alleges that as a representative of Concorde Investment Services, he acted negligently, misrepresented material facts, breached contract, committed fraud, and unsuitably concentrated the account. The pending complaint alleges damages, punitive damages, and returned commissions of $71,800.
A second investor complaint, filed in September 2021, alleges negligence, supervisory failures, and breach of fiduciary duty relating to GPB Automotive and GPB Waste purchases while he was at Concorde Investment Services. The pending complaint alleges damages of $200,000.
A third complaint, filed in 2020, alleged that he sold unsuitable illiquid REITs and private placements that resulted in an over-concentrated portfolio while he was at Concorde Investment Services, Kovack Securities, and Center Street Securities. In 2021 the complaint reached a settlement of $23,000.
A fourth complaint, filed in 2019, alleged he breached contract, committed fraud, misrepresented material facts, breached his fiduciary duty, and violated FINRA rules in connection with REIT and GPB investments while he was at Concorde Investment Services and Kovack Securities. In 2020 the complaint reached a settlement of $60,000.
According to the Financial Industry Regulatory Authority, Michael Ecker holds 25 years of securities industry experience. Based in Lake Worth, Florida, he has been a broker with Center Street Securities since 2018, doing business as Insurance & Financial Services Group. His past registrations include Concorde Investment Services, Kovack Securities, Berthel Fisher & Company Financial Services, Questar Capital Corporation, Thomas F. White & Company, Toluca Pacific Securities Corporation, Greenway Capital Corporation, Investacorp, USLife Equity Sales Corporation, Michael Philip Securities, G.A. Michele, Shearson Lehman Brothers, David Lerner Associates, IDS Life Insurance Company, IDS Marketing Corporation, and Investors Diversified Services. His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Registered Representative Examination, or Series 1; the Municipal Securities Representative Examination, or Series 52; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Connecticut, Florida, Illinois, Kansas, New York, and Oregon. (Information current as of October 26, 2022.)
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