Last Updated: November 2023 (Lake Worth, FL)
Michael Ecker Investigation Summary
Here’s what you need to know about Lake Worth, FL, stockbroker Mike Ecker:
- Name: Mr. Michael P. Ecker
- Current Employer: Not currently registered with FINRA
- DBA: Admark Consultants
- Previous Firms: Center Street Securities, Concorde Investment Services, Kovack Securities, Berthel Fisher & Co.
- Function: Stock Broker/ Financial Advisor
- Aliases: Mike Ecker, Michael Phillips Ecker
- Primary Location: Lake Worth, FL
- CRD 824193
- Can Mike Ecker be sued in FINRA arbitration: Yes
- Sanctioned by FINRA/NASD: Yes
- Highest Settlement or Award: $60,000
- Pending Customer Dispute Seeks Damages of $239,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Ecker As Your Stockbroker?
Three former customers of Mike Ecker have settled complaints against him and his firm. The customer complaints involved illiquid alternative investments, including REITs, GPB auto, GPB waste and private placements. The customers were paid a total of $143,000.
There are two pending cases currently being pursued. In one of the cases, brought by a customer of Concorde Investment Services, the customer alleges that a REIT purchase was unsuitable and is seeking $239,000.
The other pending case, brought by a customer of Kovack Securities alleges that the recommendation to invest in alternative investments was unsuitable. No damage amount is specified.
Allegations of Broker Misconduct Against Michael Ecker
Customers of Mike Ecker have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations to invest in alternative investments
- Unsuitable Investment Recommendations to invest in illiquid REITs
- Negligence relating to various limited partnership investments
- Over concentrated portfolio
- Failure to supervise
- Fraud related to GPB private placement
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
See this for information on our other investigations of Concorde Investment Services brokers
If you have suffered investment losses in an account handled by Mike Ecker, 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.
