Soreide Law Group is investigating claims made by investors against MICHAEL ANTHONY FAHSHOLTZ (MICHAEL FAHSHOLTZ) CRD#: 2057306, a broker formerly with Stifel, Nicolaus & Co. in Wenatchee, Washington.
According to FINRA’s BrokerCheck, MICHAEL FAHSHOLTZ was previously registered both as a broker and as an investment advisor. Fahsholtz has been in the securities for 29 years and was listed with 10 firms. According to his BrokerCheck report, Fahsholtz has 10 Disclosures on his CRD report, all of these Disclosures are “Customer Disputes.” Of these 10 disputes, 3 have settled, 5 are pending, and 2 were denied.
The following are the five disputes filed in 2020:
In September of 2020, a dispute against MICHAEL FAHSHOLTZ settled for $14,500.00 following allegations of, “Clients allege violation of the Securities Act of Washington, breach of fiduciary duty, and unsuitable investment recommendations. Timeframe = 2/24/12 through 5/7/18.”
There is a pending dispute filed against MICHAEL FAHSHOLTZ in July of 2020, with allegations of, “Claimants allege violation of federal securities laws, violation of Washington Securities Act, violation of Washington’s Consumer Protection Act, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The damage amount requested is $100,000.00.
In May of 2020, a dispute against Fahsholtz settled for $48,500.00, with allegations of, “Claimants allege violation of the Securities Act of Washington, breach of fiduciary duty, unsuitable investments, violation of FINRA Rule 3110, negligence and breach of contract.”
In March of 2020, a dispute was filed against Fahsholtz and is now pending requesting damages of $90,000.00. The allegations are, “Claimant alleges common law fraud, breach of fiduciary duty, negligence, breach of contract, violation of Washington Consumer Protection Act, and violation of Securities Act of Washington.”
In February of 2020, there was a dispute filed against MICHAEL FAHSHOLTZ that is currently pending, requesting damages of $250,000.00. The allegations are, “Claimant alleges common law fraud, breach of fiduciary duty, negligence, breach of contract, violation of Washington Consumer Protection Act, and violation of Securities Act of Washington.”
In one year, with five Customer Disputes filed, clients should be aware of possible red flags regarding a stockbroker’s performance in their accounts, and question the supervisory procedures of the firm.
The most recent firms MICHAEL FAHSHOLTZ was listed with are as follows:
03/02/2011 – 08/17/2020 STIFEL, NICOLAUS & COMPANY, INC – WENATCHEE, WA
01/03/2011 – 03/03/2011 WELLS FARGO ADVISORS, LLC – WENATCHEE, WA
If you or a loved one have experienced investment losses due to the actions or recommendations of the former Stifel, Nicolaus & Co. in Wenatchee, Washington, broker MICHAEL FAHSHOLTZ, please contact Soreide Law Group and speak to an attorney at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.