Joseph Michaletz Investigation
November 2021-Mankato, MN
According to publicly available records Joseph G. Michaletz , a stockbroker who is currently registered with DAI Securities, disclose 3 currently pending customer disputes and 10 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The pending customer claims involving Joseph Michaletz include:
- FINRA Case 21-1449- a customer of prior employer Triad Advisors alleges that recommendations to purchase direct investments and limited partnerships . The customer seeks damages of $70,000.
- FINRA Case 21-560- a customer of prior employer Triad Advisors and Concorde Investment Services alleges that recommendations to purchase direct investments and limited partnerships in 2015-2016 were unsuitable and violate state securities laws. The customer seeks damages of $2,550,000.
- FINRA Case 20-4191- a customer of prior employers Triad Advisors and Concorde Investment Services alleges that recommendations to purchase direct investments and limited partnerships were fraudulent or negligent and based on misrepresentations. The customer seeks damages of $457,000.
Nine prior customer complaints have been resolved by cash settlements, including:
- FINRA Case 20-2100-A customer of DAI Securities/Concorde Investment Services was paid $275,000 to resolve allegations that recommendations to purchase direct investments and limited partnerships between 8/2017-5/2018 were negligent and a breach of fiduciary duty.
- FINRA Case 20-59- A customer of Concorde Investment Services was paid $122,314 to resolve allegations that recommendations made in 2016-2918 to purchase direct investments, including GPB investments, were negligent and a breach of fiduciary duty.
The employment history of Michaletz includes:
- DAI Securities– current employer since 4/2018
- Concorde Investment Services– 10/2015-4/2018
- Triad Advisors-4/2006-10/2015
If you have losses in an account handled by Joseph Michaletz, call to discuss your options with an experienced securities attorney.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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