Investor Alleges Michelle Anthony Recommended Unsuitable Investments
Michelle Anthony (CRD #: 4512228), a broker registered with Centaurus Financial, allegedly recommended unsuitable investments, according to her BrokerCheck record, accessed on August 20, 2022. Keep reading if you have questions about Michelle Anthony’s conduct as a broker.
Investor Dispute
On May 9, 2022, an investor alleged that Michelle Anthony recommended illiquid investments throughout 2020 and 2021. The client seeks $100,000 in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their client’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their tax status, risk tolerance, and age.
Illiquid investments may be unsuitable for certain investors because they are difficult to sell on short notice, and tend to incur high fees for investors who attempt to sell them early.
Investors who rely on their broker for recommendations may be able to recover their losses through FINRA arbitration.
Settled Dispute
A dispute settled in 2014 alleged that Michelle Anthony failed to fully explain to her client the tax ramifications of surrendering an annuity contract in 2011. This dispute was settled for $132,500.
Employment
Wells Fargo Advisors permitted Michelle Anthony to resign following allegations that she provided an inaccurate document to a third party.
FINRA Rule 2020
The misrepresentation or omission of information related to investments violates FINRA Rule 2020, which prohibits the use of manipulation, deception, and other unethical tactics to influence investors’ decisions.
Background Information
Michelle Anthony has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
Michelle Anthony is a registered broker in 15 states and a registered investment adviser in 16 states.
She has also worked for the following firms:
- Wells Fargo Advisors (CRD#:19616)
- Wells Fargo Investments (CRD#:10582)
- Chase Investment Services (CRD#:25574)
- Morgan Stanley DW (CRD#:7556)
Kurta Law Can Help
If you worked with Michelle Anthony 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.