Mike Cecere: $49K Complaint Against TSG, Ex-PHX Advisor

Ronkonkoma, New York financial advisor Mike Cecere (CRD# 3250479) has received multiple investor complaints alleging that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker with TSG Capital Advisors, having previously been registered with PHX Financial.

Mr. Cecere’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in January 2026, alleges that as a representative of PHX Financial, he made poor recommendations that resultedin losses. The complaint reached a settlement of $49,000.

A second investor complaint, also filed in January 2026, similarly alleges that as a PHX Financial representative, he made poor recommendations in connection with a private placement investment. The complaint reached a settlement of $82,400.

A third investor complaint, filed in 2011, alleged that as a First Midwest Securities representative, he made excessive and unsuitable trades, churned investments, and breached his fiduciary duty. In 2012 the complaint reached a settlement of $35,000.

A fourth investor complaint, filed in 2008, alleged that as a representative of First Midwest Securities, he failed to follow instructions, recommended unsuitable investments, and made unauthorized trades. The complaint reached a settlement of $15,000.

According to the Financial Industry Regulatory Authority, Mike Cecere holds 25 years of securities industry experience. Based in Ronkonkoma, New York, he has been registered as a broker with TSG Capital Advisors since January 2024. His past registrations include PHX Financial, Cape Securities, Aura Financial Services, First Midwest Securities, Emmett A. Larkin Company, Gunnallen Financial, and Seaboard Securities. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He holds 22 state licenses. (Information current as of February 15, 2026.)

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