Mike Lickiss: Ex-Arkadios Advisor Faces $2.3mm Complaint

Multiple investor complaints against Danville, California financial advisor Mike Lickiss (CRD# 5135936) allege misconduct in connection with investments recommended by his father, Edwin Lickiss. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Purshe Kaplan Sterling and Arkadios Capital broker is currently an investment advisor registered with Pacific Wealth Advisor Services.

Mr. Lickiss’ BrokerCheck report discloses four investor complaints. The most recent, filed in January 2025, alleges that as an Arkadios Capital representative, his father sold fictitious bonds between May 1999 and January 2021. The pending complaint alleges damages of $567,000.

A second investor complaint, filed in October 2024, similarly alleges that Mr. Lickiss’ father sold fictitious bonds. The pending complaint alleges damages of $2.3 million.

A third investor complaint, filed in December 2024, alleges breach of contract, violation of securities laws, breach of fiduciary duty, conversion, and unjust enrichment in connection with an investment sold by Mr. Lickiss’ father, Edwin Lickiss. The pending complaint alleges damages of $567,014. “Mike was not involved in and had no knowledge of the alleged actions claimed in this suit,” he wrote in a comment included with the disclosure.

A fourth investor complaint, filed in February 2024, alleged that as an Arkadios representative, he engaged in unspecified misconduct. In April 2024 the complaint reached a settlement of $1.5 million. “Mike Lickiss was one of a few named parties in a suit and was subsequently dismissed without prejudice upon settlement,” states a comment included with the disclosure. “Mike Lickiss had no knowledge or involvement in any of the alleged actions that led to the suit and is acting as a guarantor if the primary party cannot meet the obligations.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Mike Lickiss holds 18 years of securities industry experience. Based in Danville, California, he has been registered with Pacific Wealth Advisory Services since July 2024. His past registrations include Purshe Kaplan Sterling (2024-2025), Arkadios Capital (2021-2024), and Investment Architects (2006-2022). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He is licensed in California and Texas. (Information current as of February 6, 2025.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.