Last Updated: November 2023 (Melbourne, FL)
Mike Baumann Investigation Summary
Here’s what you need to know about Melbourne, Florida, registered investment advisor Mike Baumann:
- Name: Mr. Michael Francis Baumann III
- Current Employer: Not currently registered with FINRA, Impact Partnership Wealth (RIA), Honor Investment Group (RIA)
- DBA: Honor Insurance Group
- Previous Firms: Berthel Fisher & Co. , Center Street Securities
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Mike Baumann
- Primary Location: Melbourne, Florida
- CRD 1518081
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $295,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Mike Baumann As Your Stockbroker?
A customer of Honor Investment Group has made a claim for $295,000 alleging that Mike Baumann recommended an unsuitable alternative investment. This matter is currently pending.
Allegations of Broker Misconduct Against Mike Baumann
A customer of Mike Baumann has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in alternative investments
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Mike Baumann, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
