Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Nielson (Nielson), currently associated with Ifp Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Nielson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $150,000.00 on August 31, 2023.
Client alleges Mr. Neilson improperly recommended a high risk, high commission illiquid alternative investment, namely, GWG Holdings, Inc. and that Mr. Neilson misrepresented the investment to them and that it was inconsistent with their financial situation and needs, investment objectives and their risk tolerance.