Last Updated: November 2023 (Melville, New York)
Michael Blueweiss Investigation Summary
Here’s what you need to know about Melville, NY, stockbroker Michael Blueweiss:
- Name: Mr. Michael Roy Blueweiss
- Current Employer: Arete Wealth Management, Fincadia LLC
- DBA: Fincadia Wealth Management, Fincadia Capital Partners
- Previous Firms: National Securities Corp. , UBS Financial Services, Smith Barney
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Michael Blueweiss
- Primary Location: Tifton, GA
- CRD 728969
- Can Michael Blueweiss be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a prior employer: Yes
- Highest Settlement or Award: $150,000
- Pending Customer Dispute Seeks Damages of $100,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Blueweiss As Your Stockbroker?
In 7/2023 a customer of National Securities Corp. filed a FINRA arbitration alleging that Michael Blueweiss made unsuitable recommendations causing damages of $100,000. This matter is currently pending.
Michael Blueweiss discloses two customer disputes that have been settled with cash payments. In one of these cases, which was settled for $150,000, the customer alleged theft and trading without authorization.
He also discloses five other customer claims which allege damages ranging as high as $250,000. Apparently, these customers did not pursue the matter any further after the firm ‘denied’ the claims.
Allegations of Broker Misconduct Against Michael Blueweiss
Customers of Michael Blueweiss have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Unauthorized Trading in connection with structured notes
- Theft of funds
- Misrepresentations and Omissions
- Overconcentration
- Churning
- Failure to execute Stop Loss Order
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.
Has Your Brokerage Firm “Denied” Your Claim for Damages Due to Stockbroker Malpractice?
It is quite common, as well as predictable, for brokerage firms to deny a customer’s complaint made directly to the company. Firms know that in many, if not most, instances telling the customer “we don’t think it’s our fault” will be an end to the problem. In other words, it’s generally a waste of your time to sit down with the office manager & the broker.
Firms seldom, if ever, offer any resolution when a customer deals directly with them, or if they do, will attempt to have you settle your case for a fraction of what it is actually worth.
We suggest that if you think there is a problem with the way your account has been handled, or if you have had your claim “denied”, talk to an experienced securities attorney.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Michael Blueweiss, 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.