Michael Thaler Allegedly Recommended Unsuitable Oil and Gas Investment

Michael Thaler (CRD #: 2557899), a broker registered with Cambridge Investment Research, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on November 30, 2022. Read on to learn more about his conduct as a broker.

Investigation by the Commonwealth of Virginia 

On November 17, 2022, Virginia initiated an investigation based on allegations from a customer complaint. 

Investor Dispute

A dispute filed on September 29, 2022, alleged Michael Thaler made an unsuitable recommendation on an oil and gas investment based on a state tax deduction not available to the client. The investor additionally alleged concerns about the performance and liquidity of a Business Development Company (BDC) investment.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must examine an investor’s profile, which contains information about their tax status, risk tolerance, and other investments.

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

What is a Business Development Company?

A Business Development Company (BDC) provides loans to private businesses, particularly targeting small and struggling businesses. While BDCs can yield high rewards for some investors, they also come with high risks that make them unsuitable for others.

Background Information

Michael Thaler 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 6 – Investment Company Products/Variable Contracts Representative Examination

Michael Thaler is a registered broker in 21 states and the District of Columbia. He is also a registered investment adviser in Texas and Virginia.

He has also worked for the following firms:

• Sanders Morris Harris (CRD#:20580)
• QA3 Financial (CRD#:104957)
• QA3 Financial Corporation (CRD#:14754)
• Capital Investment Advisors (CRD#:118269)
• National Planning Corporation (CRD#:29604)
• Centennial Capital Management (CRD#:38988)
• Canada Life of America Financial Services (CRD#:24220)
• Cadaret, Grant & Company (CRD#:10641)

Kurta Law Can Help

If you worked with Michael Thaler 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 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.