Can I recover losses from investments with Charles Schwab & Co., Inc. broker Michael Maniscalco (CRD# 2994430)? He has been registered with Charles Schwab & Co., Inc. in Wayne, Pennsylvania, since 2009.
Michael Maniscalco Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
July 2024. “Claimants allege that in early 2022, they hired the financial consultant to manage their accounts and that they wanted “growth”. However, Claimants allege the financial consultant allowed a substantial amount of cash to remain uninvested or in cash equivalent investments rather than purchasing equities. As a result, Claimants allege they missed an opportunity to capitalize on the rising equity market.” The case is currently pending. The complaint was regarding money market funds.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Charles Schwab & Co., Inc. may be liable for investment or other losses suffered by Michael Maniscalco’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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