An Update on La Jolla Stockbroker Michael Frager’s Situation

With today’s fluctuating markets, we all look for financial experts we can depend on to steer us through uncertain financial waters. A financial advisor’s expertise is invaluable, but what happens when one is accused of misconduct? This is the current case with La Jolla-based stockbroker Michael Frager, and as an investor, you need to be aware.

  • Who are we talking about: Mr. Michael Raymond Frager
  • His current workplace: Willow Cove Investment Group, Balboa Wealth Partners (RIA)
  • Also known as: FSA Integrated
  • Past associations: Integrity Brokerage Services, Centaurus Financial, Independent Financial Group
  • His roles: Stockbroker, Financial Advisor, Registered Investment Advisor
  • Also goes by: Michael Frager
  • Where he operates: La Jolla, CA
  • Professional record: CRD 1230622
  • Can you take him to FINRA arbitration: Yes
  • Has FINRA disciplined him: No
  • Ever lost a job with a previous employer: Yes
  • The biggest settlement he’s paid: $200,000
  • Two active client disputes summing up to $250,000 in requested compensation

Investor Losses While Working with Broker Michael Frager

Recent reports show that Michael Frager is involved in two open disputes originating from his time at Integrity Brokerage Services. In these, he is accused of giving advice that didn’t fit the clients’ needs, leading to a combined alleged loss of $250,000. In his past, he’s seen eight such settlements with clients, who cited reasons like overtrading, transactions they didn’t approve, and mishandling mutual funds. These settlements have varied, with the largest reaching $200,000.

Potential Wrongdoings by Michael Frager

Here’s a rundown of what clients have accused Michael Frager of:

  • Advising investments that weren’t suitable
  • Overtrading to generate commissions (churning)
  • Inappropriately borrowing on margin
  • Dealing in risky stocks

These claims, particularly churning, suggest possible breaches of FINRA rules. As an oversight body, FINRA mandates that all stockbrokers and their firms maintain proper licensing, regulation, and transparent reporting of any customer complaints or regulatory issues.

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Looking to Recoup Your Investment Losses?

If Michael Frager has managed your investments and you’ve encountered losses, it’s time to weigh your options. You might have a chance to recoup these through a FINRA arbitration claim. It’s unacceptable for investors to endure losses due to the carelessness or deceitful actions of their financial advisors or firms.

Seeking professional help can make sense of the complex FINRA arbitration process. A skilled securities attorney can sit with you, analyze the specifics of your situation, and provide guidance on possibly retrieving your investment losses. Should you have any misgivings about how your account has been handled, stepping forward could help protect your investment portfolio.

Most often, attorneys in this field work on a contingency basis, which means they only get paid if you win your case. This is your cue: scrutinize your circumstances and think through your next move. “The only real power available to the leader is the power of your own understanding and your own decision” – Peter Drucker. And in the realm of investments, this is no different – as an investor, that power should reside with you.

It’s important to note that there have been some disturbing statistics in the financial advisory world. For instance, one report reveals that one in 13 victims of financial misconduct repeat their use of the same financial advisor, illustrating the gravity of doing proper due diligence. Always verify an advisor’s FINRA CRD number before engaging their services to ensure they have a clean and reliable professional history.

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