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Michael Stolberg Allegedly Misrepresented an Unsuitable Investment

Michael Stolberg (CRD #: 5678544), a broker registered with Private Client Services, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on December 22, 2023. Keep reading if you have questions regarding his alleged conduct. 

On October 31, 2023, an investor alleged that Michael Stolberg misrepresented an unsuitable investment. The investor is seeking $500,000. The Broker Comment section identified the investment as an alternative investment. 

What is an Unsuitable Alternative Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Alternative investments are often unsuitable due to their high risk. Brokers must examine the investor’s profile, which contains the following investor characteristics:

  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status
  • Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Michael Stolberg has passed the following exams: 

  • Series 66 – Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination

He is a registered broker and investment adviser in Kansas and Texas. He is also a registered broker in Missouri. 

Michael Stolberg has registered with the following securities: 

  • Private Client Services (CRD #: 120222)
  • Prime Capital Investment Advisors (CRD #: 288712)
  • Cambridge Investment Research (CRD #: 39543) 
  • Lawing Financial (CRD #: 117178) 
  • The O.N. Equity Sales Company (CRD #: 2936) 

Kurta Law Can Help 

If you have worked with Michael Stolberg and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.