Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Mike Elias: Bond Complaint Against Elite Wealth Advisor
Brentwood, California financial advisor Mike Elias (CRD# 1522834) has received an investor complaint alleging he provided misleading investment advice. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Centaurus Financial, and he is the owner of Elite Wealth Management.
Mr. Elias’ BrokerCheck report discloses one investor complaint. Filed in July 2022, it alleges that as a representative of Centaurus Financial, he made misrepresentations of material information regarding a corporate bond investment. The pending complaint alleges unspecified damages.
In a statement regarding the pending complaint’s disclosure, Mike Elias commented that he “vehemently” denies the claim, describing the allegations as completely meritless. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after his review of all material documentation related to the investment,” he wrote, continuing: “The customer confirmed in writing that he not only received the requisite investment documentation/disclosures, but that he fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”
Mr. Elias’ BrokerCheck report also discloses his firing from Princor Financial Group. According to the disclosure, the firm fired him in relation to allegations he altered the date on a form and used a signed blank document.
According to the Financial Industry Regulatory Authority, Mike Elias holds 35 years of securities industry experience. Based in Brentwood, California, he has been a broker and an investment advisor with Centaurus Financial since 2017. He is also the owner of Elite Wealth Management. His past registrations include Packerland Brokerage Services (Brentwood, California; 2013-2018), Princor Financial Services Corporation (Brentwood, California; 1998-2013), and Pruco Securities Corporation (Newark, New Jersey; 1986-1998). His credentials include the passage of four securities industry qualifying exams: 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 Combined State Law Examination, or Series 66. He holds 18 state licenses. (Information current as of September 1, 2022.)
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