Did Michael J. Wiseman Cause You Investment Losses?
Michael Jeffery Wiseman, broker formerly employed by Boston, Massachusetts-based LPL Financial LLC, submitted a Letter of Acceptance, Waiver and Consent in which he agreed to, without admitting or denying, the described penalties and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he made appearances on a talk radio show in which he made statements relating to a variable annuity that were unfair and unbalanced. During several of his radio appearances, Mr. Wiseman generally referenced a variable annuity he had recommended to his clients. Mr. Wiseman’s comments focused on the guarantees offered by the variable annuity, particularly the guarantee against loss of principal, claiming the investor “can’t lose money.” During some of those appearances, Mr. Wiseman noted that the variable annuity was not Federal Deposit Insurance Corporation (FDIC) guaranteed and that the investor would have to hold the product for 10 years so as to receive the guarantee against loss of principal. Mr. Wiseman then encouraged listeners to call him for more information about the product, stating “we’ll find out if this is an appropriate investment for you.” In discussing the variable annuity, however, Mr. Wiseman did not explain that any such guarantees were dependent on the paying ability of the annuity’s issuer. FINRA found, Mr. Wiseman also did not disclose other material aspects of the investments, such as the negative tax and investment consequences resulting from early withdrawals and the fees, expenses, and surrender charges that investors may need to pay. Mr. Wiseman of Hermitage, Pennsylvania was fined $5,000 and suspended from association with any FINRA member in any capacity for 10 business days.
Do You Need a Securities Arbitration Lawyer?
Massachusetts has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisor offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in all kinds of stockbroker misconduct which violates Federal and Massachusetts securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
Experienced Lawyers Who Handle Securities Claims In FINRA Arbitrations Throughout Massachusetts and Nationwide.
Are you a Massachusetts investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Massachusetts stockbroker or investment advisor, misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues.
By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best attorneys to recover your investment losses for all types of stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Massachusetts, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
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Free Initial Consultation With Experienced FINRA Securities Arbitration Lawyers Serving Massachusetts Residents In FINRA Arbitration Proceedings
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Massachusetts citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.