DID MICHAEL LEE KRUMHOLZ CAUSE YOU INVESTMENT LOSSES?
Michael Krumholz Of Fortune Financial Services, Inc. And Formerly With LPL Financial LLC Has 2 Customer Complaints For Alleged Broker Misconduct
About Michael Krumholz of Fortune Financial Services, Inc.?
Michael Krumholz (CRD #1977128) has a lengthy history in the securities industry, though not without its blemishes. His registration includes multiple firms, reflecting a potential lack of stability or fitness within these organizations. Currently associated with Fortune Financial Services, Inc., Perigon Wealth Management, LLC, and Prudeo Partners, LLC, all in Reading, PA, his career is marked by multiple disclosures. Krumholz is licensed in 12 U.S. states and territories, and he has passed 2 principal/supervisory exams, 4 general industry/product exams, and 2 multi-state securities law exams. Despite these qualifications, the presence of customer disputes casts a shadow over his professional record.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Michael Krumholz Customer Complaints and Reviews
- Customer Dispute (Settled)
- Allegations: Allegations made against Krumholz involved misuse of funds from a UGMA account by the custodian for personal use, during his time with Prime Capital Services, Inc.
- Date Complaint Received: October 5, 2007
- Settlement Amount: $15,000
- Individual Contribution: $0.00
- Customer Dispute (Pending)
- Allegations: Current allegations state that Krumholz made investment recommendations aimed at generating high commissions and fees, depriving claimants of the potential to generate reasonable returns from a diversified portfolio.
- Product Type: Direct Investment-DPP & LP Interests, Oil & Gas
- Date Complaint Received: April 2, 2024
- Docket/Case #: 24-00397 at FINRA
Allegations Against Michael Krumholz
- Misuse of Custodial Funds: Accusations of allowing or not preventing the misuse of funds in a custodial account, which questions his oversight and ethical standards.
- Self-serving Investment Recommendations: Alleged strategy of making investment recommendations that primarily benefit the broker at the expense of the client’s potential returns.
- Lack of Diversification: Accusations that he deprived clients of reasonable returns through a lack of diversified investment strategies, suggesting a potential disregard for optimal client asset management practices.
These incidents present a concerning picture of a broker whose actions may not always align with the best interests of his clients, highlighting potential risks for investors considering his services.
Michael Krumholz Red Flags & Your Rights As An Investor
Of course, Michael Krumholz 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 Krumholz at Fortune Financial Services, Inc. and LPL Financial LLC on alert to review carefully the activity and performance of their accounts and question whether Michael Krumholz has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Fortune Financial Services, Inc. and LPL Financial LLC also raises questions about the brokerage firms’ 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 Fortune Financial Services, Inc. Due To Michael Krumholz
If you have questions about Fortune Financial Services, Inc., LPL Financial LLC and/or Michael Krumholz 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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