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Mike Whitaker: Complaints Against Whitaker & Associates Advisor
Investor complaints against The Villages, Florida financial advisor Mike Whitaker (CRD# 1739854) allege negligence and other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Newbridge Securities Corporation, doing business as Michael L. Whitaker & Associates.
Mr. Whitaker’s BrokerCheck report discloses two investor complaint against him. The most recent, filed in May 2022, alleges negligence, breach of fiduciary duty, and negligent supervision in connection to alternative investments. (For reference, the fiduciary standard requires financial advisors to place their clients’ interests above their own, fully disclose conflicts of interest, and operate in good faith and with loyalty to the client; this is similar to but distinct from the suitability standard that applies to brokers.) The pending complaint alleges damages of $47,000.
A second investor complaint, filed in March 2021, alleged breach of fiduciary duty, breach of contract, and negligence in connection to alternative investments and real estate investment trusts (REITs). In April 2022 the complaint reached a settlement of $23,000.
According to the Financial Industry Regulatory Authority, Mike Whitaker holds 18 years of securities industry experience. Based in The Villages, Florida, he has been a broker with Newbridge Securities Corporation since 2009, doing business as Michael L. Whitaker & Associates. His past registrations include Great American Advisors (The Villages, Florida; 2007-2009), UVest Financial Services (Ocala, Florida; 2006-2007), AFS Brokerage (Austin, Texas; 2003, 2005-2005), and NWNL Management Corporation (1987-1989). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He holds 36 state licenses. (Information current as of July 7, 2022.)
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