Michelle Booker Bennett (CRD #1573119) Has Disclosures on FINRA BrokerCheck

Michelle Booker Bennett (CRD #1573119) is a broker with disclosures on FINRA BrokerCheck. We reviewed her BrokerCheck report on April 20, 2026. It reflects one customer dispute and one employment separation after allegations. If you invested with Michelle Bennett and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Michelle Bennett’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On March 22, 2010, a customer alleged Michelle Bennett made misrepresentations and unsuitable recommendations tied to mutual funds purchased in 2005 and 2006. The customer sought $48,000 in damages. Michelle Bennett’s FINRA BrokerCheck Report lists the product as a mutual fund. FINRA BrokerCheck shows the matter settled on September 25, 2011, for $12,500, with no individual contribution by Michelle Bennett. Michelle Bennett stated the claim related to the Regions Morgan Keegan High Yield Bond Fund and said the claims against her individually were without merit.

Employment Separation

Michelle Bennett’s FINRA BrokerCheck Report also reflects one employment separation after allegations disclosure. A summary appears below:

On February 18, 2026, Morgan Stanley Smith Barney reported a voluntary resignation by Michelle Bennett. Michelle Bennett’s FINRA BrokerCheck Report says the matter involved booking a trade to her individual number rather than to a joint number under a revenue-sharing arrangement. FINRA BrokerCheck lists the product type as a variable annuity.

Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires brokers and firms to observe high standards of commercial honor and just and equitable principles of trade. Disclosures about trade-crediting or compensation-related conduct can raise questions about whether the broker followed those standards.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 (Suitability) requires a reasonable basis for each recommendation. Customer disputes involving alleged misrepresentation or unsuitable mutual fund recommendations often raise questions about whether the recommendation fit the investor’s profile.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on her FINRA BrokerCheck report, Michelle Bennett:

Is currently registered with Wells Fargo Advisors and Wells Fargo Clearing Services, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Michelle Bennett has also passed Series 7, Series 65, and Series 63.

Was previously registered with firms that include Morgan Stanley, Raymond James & Associates, Inc., and Morgan Keegan & Company, Inc.

Kurta Law Can Help

If you have worked with Michelle Bennett and you have concerns about her activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.