Michael Magruder of Raymond James & Associates, Inc. FIRED
DID MICHAEL EDWIN MAGRUDER CAUSE YOU INVESTMENT LOSSES? Michael Magruder Formerly With Raymond James & Associates, Inc. was terminated on July 3, 2024, following allegations regarding the receipt of loans from customers. Michael Magruder Customer Complaints and Reviews Mr. Magruder has three disclosure events on his record, including two customer disputes and one employment termination: Allegations Against Michael Magruder Client Loan Solicitation: Loan Requests: Mr. Magruder is accused of requesting personal loans from clients, which allegedly goes against Raymond James’ policy on client interactions. One client’s complaint involves a loan request of $175,000, while another describes a loan request accompanied by unauthorized stock transactions. Employment Termination: Policy Breaches: His termination from Raymond James was attributed to failure in adhering to firm policies, specifically regarding client loan procedures and accurate regulatory reporting through Form U4. This termination and the pending client disputes suggest potential concerns about compliance with firm and regulatory standards. Michael Magruder Red Flags & Your Rights As An Investor Of course, Michael Magruder 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 coupled with the recent termination are red flags which should put all current and former customers of Michael Magruder at Raymond James & Associates, Inc. on alert to review carefully the activity and performance of their accounts and question whether Michael Magruder has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Raymond James & Associates, Inc. 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 Raymond James & Associates, Inc. Due To Michael Magruder If you have questions about Raymond James & Associates, Inc. and/or Michael Magruder 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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