Michael Fisher (CRD 4056114) faces a pending customer claim alleging unsuitable trading in discretionary accounts, according to his BrokerCheck report. Claimants filed the claim on September 12, 2026, under docket number 26-01997, while Fisher was registered with Ameriprise Financial, and they seek compensatory damages of between $500,000 and $1,000,000.
Fisher has also settled customer disputes at UBS Financial Services, Wells Fargo Advisors, and Rate Cap Securities dating back to 2017.
The claimants allege that Michael Fisher engaged in unsuitable trading in their discretionary investment accounts during 2025, resulting in losses and significant tax liabilities, according to the disclosure. They also allege that Ameriprise failed to act in their best interests, misrepresented account performance, failed to disclose material tax consequences, breached fiduciary duties, improperly managed the discretionary accounts, and failed to adequately supervise Fisher.
No arbitrator has ruled on the claim.
A customer filed a dispute against Michael Fisher on June 1, 2023, under docket number 23-00537, while Fisher was registered with UBS Financial Services. The dispute settled on August 19, 2024 for $7,000. UBS said in a statement that it chose to settle to minimize litigation costs and without admitting liability, and Fisher said the parties settled to avoid the costs of FINRA arbitration.
Another customer filed a dispute on May 25, 2023, also under docket number 23-00537, while Fisher was registered with Wells Fargo Advisors. The claimant sought $1,000,000 in damages, and the dispute settled on August 28, 2024 for $38,000. Wells Fargo said it settled without admitting liability to minimize litigation costs, and Fisher said the parties settled to avoid the costs of FINRA arbitration.
Fisher was registered with Rate Cap Securities when this disclosure was filed. It named Wells Fargo Advisors as the member firm against which a customer's complaint asserted causes of action that included breach of fiduciary duty, suitability, failure to supervise, and negligence. The matter went to arbitration, filed September 19, 2018 and settled March 8, 2019, with $50,000 in alleged damages and a $50,600 settlement.
A dispute involving Wells Fargo Advisors settled on May 10, 2018 for $100,000, following a complaint filed September 7, 2017 under docket number 17-02314. Wells Fargo said in a statement that it settled the matter to avoid the costs and expenses of continued litigation without admitting liability, and that Fisher did not contribute to the settlement amount.
An arbitration matter at Wells Fargo Advisors, filed March 22, 2017 and settled September 8, 2017, involved $50,000 in alleged damages and a $50,000 settlement.
FINRA member firms must supervise the activities of their brokers. If you have questions about an account that Michael Fisher handled, call Soreide Law Group at (888) 760-6552. You can also reach us online to speak with a securities attorney. Our securities lawyers handle FINRA arbitration claims on a contingency fee basis. Learn how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 10, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
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