Former Integrity Brokerage Services, Inc. broker Michael Frager (CRD# 1230622) is accused of unsuitable investment recommendations. He has been registered with Willow Cove Investment Group, Inc. in Winneconne, Wisconsin, since 2020, and with Balboa Wealth Partners, Inc. in La Jolla, California, since 2016. Previously, he was registered with Integrity Brokerage Services, Inc. in La Jolla, California, from 2017 to 2020, and with Centaurus Financial, Inc. in La Jolla, California, from 2010 to 2016.
He was registered with 12 additional firms between 1984 and 2020, including Prudential Securities Incorporated in New York, New York, from 1992 to 1994, when he was terminated regarding, “termination the trade in question was in regards to customer John Lee. who never alleged unauthorized trading. He was only upset about having lost money. the prudential manager John Collura was looking for something to terminate me on because my gross production had dropped below $10,000 per month. Mr. Lee never made this allegation and Mr. Collura made a spot decision on the phone to settle with the Lees.”
Michael Frager Customer Complaints
He has been the subject of 10 customer complaints between 1994 and 2024, according to his CRD report. The most recent complaints were regarding:
January 2024. “Alleged unsuitable investment recommendation in November 2018.” The customer is seeking $125,000 in damages, and the case is currently pending. The complaint was regarding a debt-backed asset, and it took place while he was registered with Integrity Brokerage Services, Inc.
November 2022. “Unsuitable investment recommendation.” The customer is seeking $125,000 in damages, and the case is currently pending. The complaint was regarding a debt-backed asset, and it took place while he was registered with Integrity Brokerage Services, Inc.
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, Integrity Brokerage Services, Inc. may be liable for investment or other losses suffered by Michael Frager’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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