DID MICHAEL ARCHMEDE CAUSE YOU INVESTMENT LOSSES?
About Michael Archmede formerly with PFS Investments Inc?
Michael Archmede (CRD #5701306) was previously registered with PFS Investments Inc. from January 2010 to December 2023. He has passed five exams: one principal/supervisory exam (Series 26), two general industry/product exams (Series 6 and SIE), and two state securities law exams (Series 63 and Series 65). During his tenure, he was primarily involved in investment-related sales, mortgage lending, and other business activities.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Michael Archmede Customer Complaint and Reviews
- Total Incidents: 3
- Regulatory Event (Final):
- Date Initiated: January 22, 2024
- Allegations: FINRA initiated an investigation into Archimede for allegedly borrowing customer funds for a crypto asset investment away from PFS Investments Inc. He refused to provide requested documents and appear for on-the-record testimony.
- Sanction: Permanent bar in all capacities, effective January 22, 2024.
- Customer Dispute (Pending):
- Date Complaint Received: November 9, 2023
- Allegations: The customer claimed that Archimede borrowed $52,482.12 that has not been repaid. The investment product involved is a mutual fund.
- Status: Pending.
- Employment Separation After Allegations:
- Termination Date: December 31, 2023
- Allegations: Archimede was allowed to resign while under internal review for borrowing customer money and failing to renew his securities licenses.
Allegations Against Michael Archimede
- Regulatory Event:
- Refused to comply with a FINRA investigation concerning borrowing customer funds for a crypto asset investment away from his employer.
- Customer Complaint:
- Allegedly borrowed $52,482.12 from a customer and hasn’t repaid it.
- Employment Separation:
- Permitted to resign after admitting to borrowing money from a customer and failing to renew his securities licenses.
Michael Archmede Red Flags & Your Rights As An Investor
Of course, Michael Archmede 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 Archmede at PFS Investments Inc. on alert to review carefully the activity and performance of their accounts and question whether Michael Archmedehas engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at PFS Investments Inc. also raises questions about the brokerage firm’ssupervisory 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 PFS Investments Inc. Due To Michael Archmede.
If you have questions about PFS Investments Inc. and/or Michael Archmede 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.
Rate this Post
Loading...