Soreide Law Group is reviewing possible investor claims against securities broker Joseph Gerard Michaletz (CRD#: 1327534, Mankota, MN). Notably, nine clients have brought disputes or lawsuits in regard to the securities broker, who worked for firms Concorde Investment Services and DAI Securities. Notably, investors indicate in these disputes that Michaletz allegedly breached a fiduciary duty. Not only that, but clients indicate that Michaletz sold unsuitable alternative investments including GPB. Here’s more.
Apparently, a client of Concorde brought a dispute about Joseph Michaletz in July 2020. It seems that the broker possibly failed to act in the client’s best interest. Supposedly, he was negligent and breached a contract, harming the client. In addition, the client indicated that while at Concorde and firms Triad Advisors and DAI Securities, Michaletz engaged in unsupervised securities business. Supposedly, Michaletz arranged private placements from 2015 to 2018. For this reason, the client demanded $225,000 in this ongoing dispute.
Notably, a second investor came forward in July 2020 to challenge Joseph Michaletz’s sales practices while at Concorde Investment Services. Specifically, the client alleged a breach of contract and negligence from 2017 to 2018 concerning DPPs or LPs. In addition, the client contended that there was a breach of fiduciary duty on Michaletz’s part relating to these alternative investments. Evidently, this client received a $55,000 payment to settle this matter.
A third Concorde Investment Services client took aim at Joseph Michaletz through a July 2020 FINRA Arbitration Claim. Namely, the client indicated in this dispute that Michaletz was breaching a fiduciary duty and breaching a contract over the 2017-2018 time frame. The investments involved in this dispute reportedly consist of speculative DPPs and LPs. For this reason, the client demanded $1,000,000.00 in damages. This matter is awaiting a resolution.
Apparently, in June 2020, a client of Concorde Investment Services brought a dispute about Joseph Michaletz. Apparently, the allegations match those of other clients: breach of fiduciary duty, negligence and breach of contract. Similarly, the allegations concern alternative investments. Notably, in this dispute, the client identifies that Michaletz sold or recommended GPB Automotive Portfolio to the client. Supposedly, Concorde Investment Services failed to supervise this client’s purchase. Because of this, the client asked for $73,000 in compensation. This matter is ongoing.
Evidently, at least three other clients indicate that Joseph Michaletz sold bad GPB investments. Particularly, clients indicated that investments including GPB Holdings and GPB Automotive Portfolio were not suitable for them.
If you lost money because of Joseph Michaletz, then contact Soreide Law Group at (888) 760-6552 and speak with experienced lawyers about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to the misconduct of financial advisors and securities brokers. FINRA BrokerCheck indicates that Michaletz denies allegations of his sales practice violations.
Summit Brokerage and Independent Financial Group each appear on a pending customer claim naming Gilbert Conrad (CRD 2746778). Both claims are unproven allegations. His BrokerCheck report also lists settled disputes at Arkadios Capital and Independent Financial Group.
On August 6, 2026, a customer filed a $400,000 FINRA arbitration naming Chad McQuade (CRD 5436281) and Northwestern Mutual. The claim involves outside, third-party real estate investments. It is pending, and McQuade disputes it in a written response.
Christopher Miller (CRD 4044818) has a customer dispute on BrokerCheck that settled on October 7, 2026 for $50,901. The disclosure lists Emerson Equity as the firm.
Phone:
Fax: 1-954-760-6553
Email: [email protected]