Can you recover losses due to recommendations by former Sovereign Global Advisors, LLC broker Michael Dandrea (CRD# 5919930)? He has been registered with Arete Wealth Management, LLC in Melville, New York, since 2024. He was registered with Sovereign Global Advisors, LLC in Melville, New York, from 2016 to 2024, National Asset Management, Inc. in Westbury, New York, from 2015 to 2016, and National Securities Corporation in Westbury, New York, from 2012 to 2016.
Michael Dandrea Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
September 2023. “Claims breach of contract, breach of fiduciary duty, churning, fraud, negligence, unauthorized and unsuitable trading.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint took place while he was registered with Sovereign Global Advisors, LLC.
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, Sovereign Global Advisors, LLC may be liable for investment or other losses suffered by Michael Dandrea’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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