Joseph Gerard Michaletz (also known as Joseph Gerard Michaeletz, Joseph Gerald Michaletz, and Joe Michaletz), of Mankato, Minnesota, a stockbroker formerly registered with Concorde Investment Services LLC and Triad Advisors Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $2,550,000.00 in damages founded on allegations of the violation of both Uniform Securities Act of Michigan and Minnesota Securities Act regarding direct participation program interests and limited partnership interest transactions when Michaletz was registered with Concorde Investment Services and Triad Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00560 (March 5, 2021).
FINRA Public Disclosure shows that Michaletz has been identified in twelve more customer initiated investment related disputes concerning accusations of his harmful activities while employed by DAI Securities LLC, Concorde Investment Services, and Triad Advisors. Michaletz is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $55,000.00 in damages based upon allegations of unsuitable alternative investments purchased by the customer while Michaletz was associated with Triad Advisors. FINRA Arbitration No. 20-01415 (November 18, 2020).
Michaletz is also the subject of a customer initiated investment related written complaint on March 8, 2021. The customer sought $200,000.00 in damages based upon accusations of Michaletz’s negligence in 2018 regarding a private placement sale. The complaint alleges a failure to conduct due diligence on the private placement during the period that Michaletz was associated with DAI Securities.
On March 24, 2021, another customer filed an investment related FINRA securities arbitration claim regarding Michaletz’s activities. They requested $2,550,000.00 in damages founded on allegations of their account being overconcentrated in private placements by Michaletz when he was registered with Concorde Investment Services and Triad Advisors. FINRA Arbitration No. 21-00560. The claim alleges that the customer was poorly advised.
On May 20, 2021, a different customer initiated investment related FINRA securities arbitration claim concerning Michaletz’s conduct was settled for $24,139.81 in damages based upon accusations of breach of contract, breach of fiduciary duty, and negligence as it pertained to the customer’s alternative investment purchases through Concorde Investment Services. FINRA Arbitration No. 20-01852.
Michaletz is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $18,601.06 in damages based upon allegations of negligence concerning the purchase of GPB Auto securities in April of 2017 because of Michaletz and Concorde Investment Services. FINRA Arbitration No. 20-01851 (May 20, 2021). The claim alleges that Michaletz breached a fiduciary duty regarding DPPs and LPs. According to the claim, Concorde Investment Services failed to supervise.
On June 2, 2021, an additional customer initiated investment related FINRA securities arbitration claim involving Michaletz’s activities was settled for $12,261.52 in damages founded on accusations of breach of contract relating to private placements purchased by the customer between 2015 and 2018, while Michaletz was associated with DAI Securities, Concorde Investment Services and Triad Advisors. FINRA Arbitration No. 20-02255. According to the claim, the securities broker dealers failed to supervise the direct investment sales. The claim also alleges negligence and the breach of both a contract and fiduciary duty.
On September 14, 2021, another customer initiated investment related FINRA securities arbitration claim regarding Michaletz’s conduct was resolved for $152,000.00 in damages based upon allegations that between August of 2017 and May of 2018, Michaletz’s negligence at DAI Securities and Concorde Investment Services resulted in damages to the customer. FINRA Arbitration No. 20-02100. The claim contains accusations of breach of fiduciary duty and breach of contract by the stockbroker concerning direct investments.
Michaletz was associated with Triad Advisors between April 28, 2006, and October 22, 2015, and registered with Concorde Investment Services between October 16, 2015, and April 17, 2018. Since April 3, 2018, Michaletz has been registered with DAI Securities LLC as a stockbroker. And since March 23, 2006, he has been registered as an investment adviser representative of DAI Wealth Inc.
