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Mike Hyser: Johns Creek Advisor Denies Atlas Growth Complaint
Johns Creek, Georgia financial advisor Mike Hyser (CRD# 2322261) recently received an investor complaint regarding an investment in Atlas Growth Partners. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently a broker with Kestra Investment Services and an investment advisor with Kestra Advisory Services, doing business as Johns Creek Financial.
Mr. Hyser’s BrokerCheck report discloses one investor complaint. Filed in Johns Creek, Georgia, it alleges that as a representative of Kestra Investment Services, he recommended an unsuitable investment. The pending complaint alleges unspecified damages estimated to be greater than $5,000.
In a statement included with the pending complaint’s disclosure, Mr. Hyser defends himself the claim, which he describes as stemming from an investment in the oil and gas drilling operation Atlas Growth Partners. “At the time, the investment was less than 5% of the alternative asset allocation in his diversified portfolio,” he states. “Unfortunately, in 2020 the oil and gas business was decimated during the pandemic as demand for oil and gas hit all-time lows. The lack of demand for oil and gas ultimately caused Atlas Growth Partners to wind down operations and go out of business. Price and supply are known risks for oil and gas business operators at any time in the world economy, and it was clear these risks were responsible for the demise of Atlas Growth Partners.” He adds further that adequate due diligence was conducted on the investment and that he believes it was suitable for the customer. “The investment did not fail because it was defective,” he concludes. “[R]ather, it failed as a result of unforeseen market forces caused by the global pandemic.”
According to the Financial Industry Regulatory Authority, Mike Hyser holds 29 years of securities industry experience. Based in Johns Creek, Georgia, he has been a broker with Kestra Investment Services since 2004 and an investment advisor with Kestra Advisory Services since 2016, doing business as Johns Creek Financial. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; 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; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He currently holds 22 state licenses. (Information current as of June 3, 2023.)
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