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Christopher Michalman Allegedly Recommended Unsuitable Oil and Gas Investment

Christopher Michalman (CRD #: 2750759), a broker registered with LPL Financial, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on October 2, 2022. Investors may have also engaged his services through Integrated Wealth Concepts. Read on if you want to know more about his conduct as a broker.

Investor Dispute

In a dispute filed on July 27, 2022, an investor alleged that Christopher Michalman made an unsuitable recommendation of an oil and gas investment. Energy investments are often highly speculative and unsuitable. This dispute is pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult an investor’s profile, which describes characteristics such as their risk tolerance, tax status, and age.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Christopher Michalman has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

Christopher Michalman is a registered broker in 18 states and a registered investment adviser in Connecticut, New Hampshire, and Texas.

He has also worked for the following firms:

  • Lincoln Financial Advisors (CRD#:3978)
  • The Lincoln National Life Insurance Company (CRD#:2580)
  • VeraVest Investment Advisors (CRD#:105796)
  • VeraVest Investments (CRD#:3960)

Kurta Law Can Help

If you worked with Christopher Michalman and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.