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Michael Sloan: REIT Complaint Against St. Charles Advisor
Wintrust Investments broker and investment advisor Michael Sloan (CRD# 2178871) has received an investor complaint alleging six-figure damages. Financial Industry Regulatory Authority records show that he is based in St. Charles and Elgin, Illinois.
Mr. Sloan’s BrokerCheck report discloses one recent investor complaint against him. Filed in November 2021, the complaint alleges that as a representative of Wintrust Investments, his recommendations to purchase non-traded real estate investment trusts “were unsuitable and made to maximize commissions.” The pending complaint alleges damages of $100,000.
An earlier investor complaint disclosed on Mr. Sloan’s BrokerCheck report, filed in 2009, alleged that as a representative of Chase Investment Services Corporation, he failed to follow instructions relating to a variable annuity investment. In 2010 the complaint reached a settlement of $26,684.19.
According to the Financial Industry Regulatory Authority, Michael Sloan holds 26 years of securities industry experience. Based in St. Charles and Elgin, Illinois, he has been a broker and investment advisor with Wintrust Investments since 2010. His past registrations include Chase Investment Services (St. Charles, Illinois; 2005-2010), Banc One Securities Corporation (Chicago, Illinois; 2000-2005), Josephthal & Company (New York, New York; 1999), Salomon Smith Barney (New York, New York; 1997-1998), H.J. Meyers & Company (Rochester, New York; 1995-1997), and First Albany Corporation (New York, New York; 1997). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, Colorado, Florida, Illinois, Indiana, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New York, North Carolina, Ohio, Tennessee, Texas, Virginia, and Wisconsin. (Information current as of June 17, 2022.)
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