DID MICHAEL L SPICER CAUSE YOU INVESTMENT LOSSES?
Michael Spicer Of Park Avenue Securities LLC Has 3 Customer Complaints For Alleged Broker Misconduct
About Michael Spicer Of Park Avenue Securities LLC?
Michael Spicer (CRD #2382564) is currently registered with Park Avenue Securities LLC in Hunt Valley, Maryland, a position he has held since May 1999. Prior to this, he was associated with Guardian Investor Services Corporation in New York, New York from August 1993 to May 1999. Spicer is registered with one Self-Regulatory Organization and is licensed in 23 U.S. states and territories. He has successfully completed three general industry/product exams and one multi-state securities law exam, illustrating his comprehensive knowledge in securities and state-specific regulations.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Michael Spicer Customer Complaints and Reviews
Michael L. Spicer has encountered several disclosure events, specifically customer disputes:
- Customer Dispute (July 2002): Allegations included negligence, negligent misrepresentation, breach of fiduciary duty, fraudulent concealment, and nondisclosure related to the sale of BP/Amoco stock to purchase traditional life insurance. The case was settled in court with a settlement amount of $90,000, with no personal contribution from Spicer.
- Customer Dispute (February 2020): A client claimed that Spicer misrepresented the investment of 50% of his assets into a variable annuity, stating it was unsuitable given his time horizon. This complaint was denied by the firm.
- Customer Dispute (July 2016): Allegations of misrepresentation regarding the purchase of a variable annuity and unauthorized trading. This complaint was also denied by the firm.
Allegations Against Michael Spicer
The specific allegations and accusations in the disputes involving Michael L. Spicer include:
- Negligence and Misrepresentation: In one major case, Spicer was accused of various forms of negligence and misrepresentation in the handling of client investments, particularly concerning the transition from stock ownership to life insurance.
- Unsuitability of Investment Recommendations: Clients have accused Spicer of recommending investments that were unsuitable given their financial situations and goals.
- Unauthorized Trading: In one instance, Spicer was accused of making trades without client consultation, a serious allegation that suggests a breach of standard financial advisory practices.
Michael Spicer Red Flags & Your Rights As An Investor
Of course, Michael Spicer did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Michael Spicer at Park Avenue Securities LLC on alert to review carefully the activity and performance of their accounts and question whether Michael Spicer has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Park Avenue Securities LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Park Avenue Securities LLC Due To Michael Spicer
If you have questions about Park Avenue Securities LLC and/or Michael Spicer and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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