Ameriprise Financial Services, LLC broker Michael Fisher (CRD# 4056114) is accused of unsuitable and unauthorized trading. He has been registered with Ameriprise Financial Services, LLC in Melville, New York, since 2016. Previously, he was registered with Wells Fargo Advisors, LLC in Melville, New York, from 2012 to 2016, and with UBS Financial Services Inc. in Melville, New York, from 2007 to 2012.
Michael Fisher Customer Complaints
He has been the subject of six customer complaints between 2015 and 2023, one of which was denied, according to his CRD report:
June 2023. “Time frame: March 2010 – September 2012 Allegations: Claimants allege that financial advisor engaged in unsuitable and unauthorized trading which resulted in principal losses.” The case is currently pending. The complaint was regarding equities losses, and it took place while he was registered with UBS Financial Services, Inc.
March 2023. “Claimants allege their advisor made unsuitable investment recommendations and unauthorized trades during the time period November 2016-January 2023.” The customer is seeking $1,000,000 in damages, and the case is currently pending.
September 2018. “Michael Fisher was a subject of the customer’s complaint against his member firm that asserted the following causes of action: breach of fiduciary duty, suitability, failure to supervise, and negligence. The causes of action relate to Preferred/Fixed Rate Cap Securities.” The customer is seeking $50,000 in damages, and the case is currently pending. The complaint took place while he was registered with Wells Fargo Advisors, LLC.
September 2017. “Arbitration: Claimant alleges that from February 2013 through November 2016, the FA made unsuitable investments. Complaint: Client alleges misrepresentations of UIT investments. (1/1/2013-11/8/2016).” The case was settled for $100,000.
March 2017. “Michael Fisher was a subject of the customer’s complaint against his member firm that asserted the following causes of action: negligence, breach of fiduciary duty, and unsuitability.” The customer was awarded $50,000 in damages, and the case is currently pending. The complaint took place while he was registered with Wells Fargo Advisors, LLC. The complaint was regarding unit investment trusts (UITs).
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, Ameriprise Financial Services, LLC may be liable for investment or other losses suffered by Michael Fisher’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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