NSC, UBS Clients Complain About Michael Blueweiss

Soreide Law Group is presently investigating potential claims on behalf of investors who may have sustained losses due to the actions of Michael Roy Blueweiss (CRD: 728969, Melville, New York). Blueweiss is currently affiliated with Arete Wealth Management, LLC and Arete Wealth Advisors, LLC, where he has been registered since July 21, 2022, and July 20, 2022, respectively. Moreover, he was previously employed by National Asset Management, Inc. from February 12, 2018, to July 20, 2022, and National Securities Corporation from November 30, 2017, to July 20, 2022. Notably, Blueweiss has faced allegations of making unsuitable investment recommendations and has been the subject of arbitration claims.

National Securities Corporation Investor Accused Blueweiss Of Unsuitable Investment Recommendations

Evidently, on July 24, 2023, a National Securities Corporation client filed FINRA Arbitration: 23-02011 about Michael Blueweiss. Specifically, the client alleged that Blueweiss made unsuitable investment recommendations between 2021 and 2022. As a result, the client supposedly sustained damages on common stocks and preferred stocks. Therefore, the client requested approximately $100,000 in damages from National Securities Corporation or Blueweiss. This arbitration is pending resolution.

Michael Blueweiss Disclosed Misrepresentation And Unauthorized Trading Allegations By UBS Financial Services Inc. Client

Also, a client of UBS Financial Services Inc. contested Michael Blueweiss's sales practices by filing FINRA Arbitration: 18-03773 on November 1, 2018. Notably, the claim alleges misrepresentation, unsuitability, and unauthorized trading in structured products. Supposedly, Blueweiss caused the client to sustain damages. Therefore, UBS opted to settle the matter on September 6, 2019, by compensating the client in the amount of $150,000.

Blueweiss Discharged For Violating Firm Policies

Additionally, UBS Financial Services Inc. disaffiliated with Blueweiss on October 5, 2017. Particularly, the firm concluded that Blueweiss violated the firm's order entry policy and also signed a client's name to a non-firm-related document related to investments.

Michael Blueweiss Disclosed Unsuitable Recommendation Allegations By UBS Financial Services Inc. Client

Additionally, a client of UBS Financial Services Inc. filed FINRA Arbitration: 11-00580 about Michael Blueweiss on February 23, 2011. Specifically, the client alleged that Blueweiss made misrepresentations and/or omissions and provided unsuitable recommendations concerning the purchase of UBS reversed convertibles linked to the common stock of Lehman Brothers in 2008. The client claimed damages of $252,770. UBS settled the matter on June 21, 2012, compensating the client $94,350.

Contact Soreide Law Group If You Experienced Losses With Blueweiss

If you have invested with Michael Blueweiss and have experienced financial losses, Soreide Law Group would like to speak with you. Particularly, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery. Soreide Law Group has recovered money for investors throughout the United States, works on a contingency fee basis, and advances all costs. Blueweiss and the brokerage firms he worked for deny accusations of sales practice violations.