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Read MoreMichael Fisher: Ameriprise Advisor Faces $100K Complaint
A recent investor complaint against Melville, New York financial advisor Michael Fisher (CRD# 4056114) alleges that his conduct resulted in six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ameriprise Financial Services, having previously been registered with Wells Fargo Advisors.
Mr. Fisher’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2023, alleges that as a representative of Ameriprise Financial Services, he recommended unsuitable investments and made unauthorized trades involving mutual fund and unit investment trust products. The pending complaint alleges damages of $100,000.
An earlier investor complaint, filed in 2018, alleged that as a Wells Fargo representative, he breached his fiduciary duty, made unsuitable investment recommendations, and acted negligently in connection to investments in preferred/fixed-rate cap securities. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the claimant of $50,000.
A third complaint, filed in 2017, alleged that as a representative of Wells Fargo Advisors, he acted negligently, breached his fiduciary duty, and recommended unsuitable investments in preferred/fixed-rate cap securities. The complaint evolved into a FINRA arbitration proceeding, which concluded with an award to the customer of $50,000.
A fourth investor complaint, filed in 2017, alleged that he misrepresented and recommended unsuitable unit investment trust products while he was at Wells Fargo Advisors. In 2018 the complaint reached a settlement of $100,000.
According to the Financial Industry Regulatory Authority, Michael Fisher holds 23 years of securities industry experience. Based in Melville, New York, he has been a broker and an investment advisor with Ameriprise Financial Services since 2016 and 2021, respectively. His past registrations include Wells Fargo Advisors (Melville, New York; 2012-2016), UBS Financial Services (Melville, New York; 2007-2012), Merrill Lynch (Melville, New York; 2007), and Citigroup Global Markets (Manhasset, New York; 2000-2007). His credentials include the passage of five 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; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, and Washington. (Information current as of May 3, 2023.)
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.
