Michael Gerard Tate (also known as Mike Tate) of San Mateo, California, a stockbroker formerly registered with Securian Financial Services Inc., is the subject of a customer initiated investment related FINRA arbitration claim which was settled for $37,500.00 in damages supported by accusations of Tate making an unsuitable sale of a variable annuity to the customer during the time that Tate was associated with Securian Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03575 (November 12, 2021).
This is not the first time that Tate has been involved in an investment related dispute concerning allegations of his sales practice violations. FINRA Public Disclosure reveals that a customer initiated investment related civil action concerning Tate’s conduct was resolved for $445,000.00 in damages founded on accusations of the violation of California’s laws and federal securities laws, and the breach of fiduciary duty when Tate was registered with WS Griffith Securities Inc.
Tate was employed by Securian Financial Services as both a stockbroker and investment adviser representative between February 23, 2015, and June 18, 2019. Since June 18, 2019, he has been associated with Woodbury Financial Services as a stockbroker and investment adviser representative.