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Mike Wetrich: Regulators Censure Great Plains Wealth Advisor

Sioux Falls, South Dakota financial advisor Mike Wetrich (CRD# 2842343) was recently censured in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with UBS Financial Services, whose website describes him as a Senior Vice President with Great Plains Wealth Management.

Mr. Wetrich’s BrokerCheck report discloses the recent disciplinary action against Mr. Wetrich. Filed in May 2024 by the State of Minnesota Department of Commerce, it alleged that he “provided inaccurate and misleading information to a consumer about an annuity contract” in violation of state law. In connection with these findings, he was censured and issued a fine of $5,000.

A second disclosure on his BrokerCheck report, filed in 2002, alleged that as a representative of US Bancorp Piper Jaffray, he recommended unsuitable investments, executed unauthorized trades, breached contract, and committed fraud. The complaint evolved into an arbitration proceeding before an NASD panel, which issued an award to the customer of $100,000.

Merrill Lynch’s website includes a page dedicated to Mr. Wetrich’s group within the firm, Great Plains Wealth Management, that describes its mission and approach. “Our mission is to provide quality strategies customized to your needs,” it states. “Our goal is to be your primary source of financial advice. To this end, we concentrate our efforts on developing long-term relationships through a commitment to quality client service.”

According to the Financial Industry Regulatory Authority, Mike Wetrich holds 27 years of securities industry experience. Based in Sioux Falls, South Dakota, he has been registered as a broker and an investment advisor with UBS Financial Services since 2006. He was previously registered with Piper Jaffray & Company in Sioux Falls from 1997 until 2006. His credentials include the passage of four securities industry qualifying exams: 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 holds 27 state licenses. (Information current as of June 9, 2024.)

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.

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