Michael Raymond Frager of La Jolla, California, a stockbroker registered with Integrity Brokerage Services Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $125,000.00 in damages based upon allegations that Frager made an unsuitable investment recommendation in corporate bonds when Frager was associated with Integrity Brokerage Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 2202349 (November 1, 2022).
Frager was referenced in eight other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. A customer initiated investment related NASD securities arbitration claim involving Frager’s conduct was settled for $28,000.00 in damages based upon allegations of misrepresentation, unsuitable trading, and breach of fiduciary duty in connection with the sale of stocks when Frager was associated with Smith Barney. NASD Arbitration No. 94-02535.
On December 15, 2000, a customer initiated investment related FINRA securities arbitration claim involving Frager’s conduct was settled for $200,000.00 in damages based upon allegations that Frager made unsuitable investment recommendations in mutual funds when Frager was associated with Banc of America Investment Services Inc. FINRA Arbitration No. 00-01750.
Frager was also referenced in a customer initiated investment related complaint that was settled on March 27, 2002, for $10,749.70 in damages based upon an alleged unsuitable liquidation of mutual funds and switch to a variable annuity in March of 2000. The complaint also alleged that the sales charges associated with the switch were not disclosed.
Frager was also referenced in a customer initiated investment related complaint that was settled on May 4, 2002, for $5,943.50 in damages based upon allegations that Frager made unsuitable changes in the customer’s investment portfolio, leading to a loss of liquidity and the assumption of additional risk with mutual funds during the time that Frager was associated with Banc of America Investment Services Inc.
Frager has been associated with Willow Cove Investment Group Inc. in Winneconne, Wisconsin since April 27, 2020. He has also been associated with Balboa Wealth Partners Inc. in La Jolla, California since November 21, 2016. Previously, Frager was associated with Integrity Brokerage Services Inc. in La Jolla, California from January 6, 2017, to April 20, 2020.
