Last Updated: July 2025 – Orlando, Florida
Here’s what you need to know about Orlando, FL, former stockbroker Michael Edwin Magruder:
- Name: Michael Edwin Magruder
- CRD Number: 4579211
- Current Status: Not currently registered with any FINRA-member firm
- Most Recent Employer: Raymond James & Associates, Inc. (07/2021 – 08/2024)
- Prior Employers: Merrill Lynch, Wells Fargo Advisors, Morgan Keegan & Company
- Function: Stockbroker / Financial Advisor
- Primary Location: Orlando, FL
- Can Michael Magruder be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? Yes – Permanently barred in June 2025
- Employment Separation after Allegations? Yes – Discharged by Raymond James in July 2024
- Pending Customer Disputes Seek Damages of: $686,552 and $150,000
- Highest Award or Settlement: $189,259.
If you’ve sustained damages from Mr. Magruder, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Magruder As Your Stockbroker?
On June 27, 2025, FINRA permanently barred Michael Magruder from associating with any FINRA-member brokerage firm (Case No. 2022075862201). The action followed Mr. Magruder’s failure to cooperate with FINRA’s investigation into whether he received personal loans from customers without proper notice or approval from his firms, Merrill Lynch and Raymond James. Mr. Magruder failed to provide requested documentation and submitted incomplete responses—violations under FINRA Rule 8210, which mandates full cooperation with investigations.
Mr. Magruder is the subject of two pending customer disputes filed by customers of Raymond James. Both complaints relate to allegations of unauthorized loans and improper discretionary trading:
- A complaint dated June 12, 2025 alleges that Mr. Magruder convinced a client to lend him money and then exercised discretion to sell securities in the client’s account to fund the loan. That claim seeks damages of $686,552.
- A second FINRA arbitration filed on May 29, 2025 (FINRA Case No. 25-01084) seeks damages $150,000, and alleges that Mr. Magruder failed to repay a personal loan.
Two other customer disputes were settled in 2024:
- A client of Raymond James who alleged they made a personal loan to Mr. Magruder was paid $189,259
- Another Rayond James customer was paid damages of $30,000 to resolve claims that Mr. Magruder asked for a loan and sold stock against client instructions.
See FINRA Rule 3240 Borrowing From or Lending to Customers
Magruder was discharged by Raymond James on July 3, 2024, for failing to follow firm procedures regarding customer loans and for U4 compliance failures.
Allegations of Broker Misconduct Against Michael Magruder
Clients and regulators have alleged serious misconduct against Mr. Magruder, including:
- Receiving personal loans from customers without firm approval
- Exercising discretionary authority
- Failure to follow client instructions
- Failure to cooperate with FINRA investigations
Recover Your Investment Losses Now With Rex Securities Law
Other Investigations of Raymond James Advisors
If you have suffered investment losses in an account handled by Michael Edwin Magruder, 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.