Michael Graham Allegedly Engaged in Selling Away

Michael Graham (CRD #: 3263494), a broker formerly registered with LPL Financial, allegedly sold investments away from his firm, according to his BrokerCheck record, accessed on September 7, 2025. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Disputes

On June 16, 2025, an investor alleged that Michael Graham misrepresented the guaranteed principal and returns on a secured loan made in relation to a real estate transaction. The client sought $300,000 in damages but the firm denied the dispute.

However, investors can still pursue FINRA arbitration and potentially recover their losses even if a firm denies their dispute.

On January 15, 2025, an investor alleged that Michael Graham made an investment in 2023 that was unsuitable given their investment objectives and risk tolerance. The client further alleged that he engaged in securities transactions away from his firm. The client seeks $276,200 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. Misrepresenting an investment’s limitations, fees, risks, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe investor characteristics, such as their age, tax status, and financial goals.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions.

Termination from LPL Financial

On June 6, 2025, Michael Graham was fired from LPL Financial following allegations that he failed to disclose his participation in a prohibited outside business activity, and participated in and facilitated clients’ private investments.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose to their firm any business activities they engage in outside it, including any compensation they expect to receive.

Other business activities

Michael Graham’s detailed BrokerCheck page discloses his participation in the following outside business activities: Graham Capital Strategies and Pivot Wealth Management, d/b/a for LPL Financial business; he is the owner and principal of Pivot Legal and Consulting; and he sells non-variable insurance.

Background Information

Michael Graham has passed the following exams:

• Municipal Fund Securities Principal Examination – Series 51
• General Securities Principal Examination- Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

In the past, he has worked for the following firms:

• LPL Financial (CRD#:6413) 
• Principal Securities (CRD#:1137)
• Securian Financial Services (CRD#:15296) 

Kurta Law Can Help

If you worked with Michael Graham and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 that 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.