Michael Fisher of Melville New York is a stockbroker formerly registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim where the customer requested $324,165.01 in damages based upon allegations that Fisher effected unit investment trust transactions in the customer’s account that were not suitable for the customer and made misrepresentations concerning those investments between January 1, 2013 and November 8, 2016. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02314 (Sept. 7, 2017).
FINRA Public Disclosure confirms that Fisher has been referenced in two additional customer initiated investment related disputes that pertain to accusations of Fisher’s violative conduct while employed with Wells Fargo Advisors LLC. Specifically, on December 15, 2015, a customer filed an investment related complaint regarding Fisher’s conduct in which the customer sought more than $5,000.00 in damages supported by allegations that unsuitable common and preferred stock transactions were placed in the customer’s account between July 1, 2013 and December 15, 2015; the transactions allegedly failed to conform to the customer’s investment objectives.
Thereafter, a customer was awarded $50,000.00 in damages according to an arbitration claim involving Fisher’s activities where the arbitrator found Wells Fargo Advisors LLC to be liable on the customer’s claims of suitability, breach of fiduciary duty and negligence relating to the customer’s investments in fixed rate cap securities. FINRA Arbitration No. 17-00704 (Sept. 8, 2017).
Fisher’s employment with Wells Fargo Advisors, LLC was terminated on November 8, 2016. Since November 4, 2016, Fisher has been employed by Ameriprise Financial Services, Inc.
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