Michael Graham: LPL Advisor Faces $276K Complaint

El Paso, Texas financial advisor Michael Graham (CRD# 3263494) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as Graham Capital Strategies.

Mr. Graham’s BrokerCheck report discloses two investor complaints. The most recent, filed in January 2025, alleged that as a representative of LPL Financial, he recommended an unsuitable investment and engaged in transactions away from the firm. The pending complaint alleges damages of $276,200.

An earlier investor complaint, filed in 2005, alleged that as a representative of Securian Financial Services, he failed to follow instructions to liquidate variable annuity sub-accounts. In 2006 the complaint reached a settlement of $10,223.65.

A local El Paso news magazine published a profile of Graham Capital Strategies in which the firm described its approach to working with its clients. “Our process is comprehensive and ensures that we examine every element of your financial picture,” it explained. “And thanks to our legal services partner and new banking partnership, we are now in a position to ensure that virtually every element of your personal or business financial situation is covered and addressed in the best way possible.”

According to the Financial Industry Regulatory Authority, Michael Graham holds 25 years of securities industry experience. Based in El Paso, Texas, he has been registered as a broker and an investment advisor with LPL Financial since 2019. His past registrations include Principal Strategies (El Paso, Texas; 2012-2019) and Securian Financial Services (El Paso, Texas; 1999-2012). His credentials include the passage of seven securities industry qualifying exams: the Municipal Fund Securities Principal Examination, or Series 51; the General Securities Principal Examination, or Series 24; 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; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Indiana, Iowa, New Mexico, New York, Pennsylvania, Puerto Rico, and Texas. (Information current as of February 23, 2025.)

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