Michael Clifford Graham (CRD #3263494) Has Investor Dispute, Employment Separation, and Judgment/Lien Disclosures on FINRA BrokerCheck

Michael Clifford Graham (CRD #3263494) was previously registered as a broker. We reviewed his BrokerCheck report on April 21, 2026. It reflects 10 customer disputes, one employment separation after allegations, and four judgment/lien disclosures. If you invested with Michael Clifford Graham and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Michael Graham’s FINRA BrokerCheck Report reflects 10 customer dispute disclosures. A summary of two disputes is below:

On February 23, 2026, a customer alleged Michael Graham misrepresented guaranteed principal and returns on a secured loan tied to a real estate deal in February 2023. The customer sought $150,000 in damages. Michael Graham’s FINRA BrokerCheck Report lists the product as private securities. The matter is pending in FINRA arbitration under docket number 26-00394.

On February 23, 2026, another customer alleged Michael Graham misrepresented guaranteed principal and returns on a secured loan tied to a real estate deal. The customer sought $90,000 in damages. Michael Graham’s FINRA BrokerCheck Report also lists that matter as private securities. It is pending in FINRA arbitration under docket number 26-00395. BrokerCheck reports eight additional customer dispute disclosures, including other pending and resolved matters.

Employment Separation

Michael Graham’s FINRA BrokerCheck Report reflects one employment separation after allegations disclosure. A summary is below:

On June 6, 2025, LPL Financial LLC discharged Michael Graham. Michael Graham’s FINRA BrokerCheck Report states the allegations involved failing to disclose and obtain prior approval for a prohibited outside business activity. The report also states he participated in and directed clients to private investments.

Judgment / Lien

Michael Graham’s FINRA BrokerCheck Report reflects four judgment/lien disclosures. A summary of two disclosures is below:

On July 25, 2023, Michael Graham disclosed a tax lien for $26,944.29. Michael Graham’s FINRA BrokerCheck Report lists the holder as the State of New Mexico and states the lien relates to tax years 2013 through 2016. The report lists the matter as outstanding.

Michael Graham’s FINRA BrokerCheck Report also shows a second tax lien filed on July 25, 2023 for $24,202.07. The holder is again listed as the State of New Mexico, and the broker statement says it relates to tax years 2009 through 2016. BrokerCheck reports two additional tax lien disclosures, both involving the Internal Revenue Service.

Rule Summary #1: FINRA Rule 3270 (Outside Business Activities of Registered Persons)

FINRA Rule 3270 requires registered persons to give written notice before taking part in outside business activities. That matters when a termination disclosure says a broker failed to disclose or obtain approval for outside activity.

Rule Summary #2: FINRA Rule 3280 (Private Securities Transactions of an Associated Person)

FINRA Rule 3280 governs private securities transactions, often called selling away. It generally requires written notice, and in some cases firm approval and supervision.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Michael Graham:

Is not currently registered.

Has passed the Securities Industry Essentials (SIE) exam. Michael Graham has also passed Series 7 and Series 6. He has passed Series 24, Series 51, Series 65, and Series 63 as well.

Was previously registered with firms that include LPL Financial LLC, Principal Securities, Inc., and Securian Financial Services, Inc.

Kurta Law Can Help

If you have worked with Michael Graham and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Selling Away | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.