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Michael Spector: Investor Claims $15 Million Loss 

Jan 19, 2022 Unsuitable Investments

Michael Spector (CRD #: 2857657), a broker and investment advisor registered with Morgan Stanley,n is involved in an unsuitability dispute according to his BrokerCheck record.   

According to the allegations filed on November 1, 2021, Michael Spector employed an unsuitable options investment strategy. The investor is seeking $15,708,558 — the case is still pending.  

What is Unsuitability? 

"Unsuitability" is a term used to describe inappropriate recommendations and trades that are inconsistent with the customer's goals and investment profile. 

FINRA Rule 2111 states that a broker must consider their investor’s profile before they recommend investments. A customer's investment profile consists of a wide range of individual characteristics, including the customer's: 

  • Age 
  • Financial situation and needs 
  • Tax status 
  • Investment objectives 
  • Investment experience 
  • Risk tolerance 

Brokers should take their investor’s risk tolerance and goals into account before making recommendations and take note if those preferences change over time. If an investor suffers financial losses as a result of an unsuitable recommendation, the broker's firm may be liable for such losses. 

If you've lost money due to a financial advisor's bad recommendations, do not hesitate to contact an experienced securities attorney as soon as possible. Kurta Law is a nationally recognized securities law firm with over 20 years of experience handling securities fraud cases. 

Background Information 

Michael Spector 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 9 - General Securities Sales Supervisor - Options Module Examination 
  • Series 10 - General Securities Sales Supervisor - General Module Examination 

Michael Spector is a registered broker in 47 states. He is also a registered investment advisor in Georgia and Texas. 

Other than Morgan Stanley, Michael Spector has worked with: 

  • Citigroup Global Markets (CRD#:7059) 
  • The Robinson-Humphrey Company (CRD#:723) 
  • Raymond James Financial Services (CRD#:6694) 
  • Robert Thomas Securities (CRD#:10147) 

 Kurta Law Can Help 

If you have worked with Michael Spector and have concerns about your investments, don't hesitate to 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 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.