Michael Silverman is Facing Allegations of Misrepresentation
Michael Silverman (CRD #: 1915352), a broker registered with Stifel, Nicolaus, and Company, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on November 17, 2023. Keep reading if you have questions about his alleged conduct.
On October 11, 2023, investors alleged that Michael Silverman misrepresented unsuitable investments.
The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Michael Silverman 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
He is a registered broker in 18 states and is a registered investment adviser in Pennsylvania.
During his 34 years of experience, he has registered with four firms:
- Stifel, Nicolaus & Company (CRD #: 793)
- Oppenheimer & Co. (CRD #: 249)
- W.H. Newbold’s Son & Co. (CRD #: 7575)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
Kurta Law Can Help
If you worked with Michael Silverman and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.