John Michael Shields of Palm Desert California a stockbroker currently employed by Hightower Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages supported by allegations that in reference to the customer’s investment advisory account and variable annuity investments: (1) the customer’s account was handled in a negligent manner (2) investment recommendations made to the customer were not suitable (3) and fiduciary duties owed to the customer had been breached. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02090 (July 31, 2017).
FINRA Public Disclosure additionally confirms that on December 5, 2011, a customer filed an investment related complaint concerning Shields’ activities where the customer sought $24,241.00 in damages based upon accusations that the customer was not provided favorable pricing on the municipal bonds that had purchased for the customer’s account.
Shields has been registered with Hightower Securities, LLC since May 26, 2011.
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