Our firm is investigating Cetera Wealth Services, LLC registered representative and investment adviser representative Christopher John Michalak (CRD# 5101151) of Saline, Michigan for potential investment-related misconduct.
Financial Advisor’s Career History
Based on his FINRA BrokerCheck report, Christopher J. Michalak has worked in the securities industry for nearly two decades, including the following firms and timeframes:
- Avantax Investment Services, Inc. (Broker/Registered Representative): 03/2006 – 09/2025
- Avantax Advisory Services (Investment Adviser Representative): 09/2010 – 09/2025
- Avantax Planning Partners, Inc. (Investment Adviser Representative): 01/05/2024 – Present
- Cetera Wealth Services, LLC (Broker/Registered Representative): 09/05/2025 – Present
- Cetera Investment Advisers LLC (Investment Adviser Representative): 09/05/2025 – Present
His BrokerCheck report also reflects that he has passed the Series 7 and SIE exams and the Series 66 state law exam and reports a Certified Financial Planner (CFP) designation.
Christopher J. Michalak Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck discloses one customer dispute involving Christopher J. Michalak.
Pending FINRA Arbitration Alleging Unsuitable Mortgage-Backed Securities
- Forum: FINRA arbitration
- Docket/Case #: 25-02165
- Filing date / complaint received: 10/13/2025
- Allegation: Customers alleged the investments they purchased were not suitable
- Product type: Mortgage-backed securities
- Alleged damages: Listed as $0.00, with an explanation that damages were “unspecified but believed to be over $5,000.”
- Status/Disposition: Pending
Broker’s Statement (as reported in BrokerCheck)
According to the BrokerCheck narrative, the broker stated that the securities at issue were not purchased by him or his firm, and that the assets were transferred into the firm and reviewed with the applicable conservator responsible for the account, asserting they did not solicit the purchase of the assets alleged in the claim.
Disclosure summary (bullet list for context):
- Customer Dispute (FINRA Arbitration 25-02165) — Alleged unsuitable mortgage-backed securities; damages alleged as unspecified (> $5,000); Pending; filed 10/13/2025.
To obtain a copy of Christopher J. Michalak’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) generally requires brokers to have a reasonable basis to believe a recommendation is suitable for a customer based on the customer’s investment profile (including factors like risk tolerance, investment objectives, and financial circumstances). In a dispute alleging unsuitable mortgage-backed securities, the key issue is often whether the product’s risks, complexity, and volatility aligned with the customer’s profile—and whether the recommendation was reasonable at the time it was made.
FINRA Rule 2090 (Know Your Customer) is closely related to suitability because it requires firms and associated persons to use reasonable diligence to know the essential facts about each customer and the authority of any person acting on the customer’s behalf. In cases involving alleged unsuitable products, shortcomings in “know your customer” diligence—such as not fully understanding the investor’s needs, constraints, or decision-making authority—can contribute to recommendations that customers later allege were inappropriate.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is a broad ethical rule that can be implicated when alleged conduct reflects unfair dealing or improper sales practices. When customers claim they were placed into unsuitable securities (including mortgage-backed securities), Rule 2010 may be cited in connection with allegations that a broker failed to act consistently with industry standards in how recommendations were made, explained, documented, or implemented.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.