Broker Michael Shillin Under FINRA Investigation

Soreide Law Group is reviewing possible investor lawsuits against securities broker Michael Francis Shillin (CRD#: 5927156, Altoona, WI). Notably, on November 20, 2020, FINRA initiated an investigation into the broker, who worked for securities firms Alliance Global Partners (AGP) from 2018 to 2020 and Raymond James from 2014 to 2018. Particularly, the financial industry watchdog is determining if Shillin violated rules of the industry including MSRB, NASD and FINRA rules. Evidently, the investigation follows disclosures about Shillin’s employment terminations and involvement in an investor’s complaint.

AGP Client Indicates That Michael Shillin Misrepresented Stock Dividend Info

Notably, a client of AGP took aim at Shillin’s sales practices via an October 2020 dispute. Namely, the client alleges that the broker misrepresented the amount and source of stock dividends. Supposedly, Shillin sold the client AT&T Inc. stocks after leading them to believe incorrect information about the dividends. For this reason, the client demanded $20,000 in this ongoing matter.

Alliance Global Partners, Raymond James Financial Services Disaffiliates With Shillin

Evidently, AGP disaffiliated with Michael Shillin in October 2020. Supposedly, the broker resigned amid allegations of his long-term care insurance policy sales or related activities. Also, major securities firm Raymond James Financial Services disaffiliated with Shillin for his failure to follow firm directives in connection with CPA fees.

Did Broker Michael Shillin Sell You Bad Investments?

Have you experienced losses by investing in securities or insurance products because of Michael Shillin? If so, contact Soreide Law Group at (888) 760-6552 and speak with knowledgeable counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to their securities brokers and financial advisors. BrokerCheck indicates that Shillin denies allegations of sales practice violations.