One or more investors possibly experienced losses because of securities broker Michele George Savarese (also known as Michael Savarese and Mike Savarese) [CRD: 1241811, San Diego, California], based on publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Savarese joined CreativeOne Securities LLC on August 15, 2018. He previously worked with Kestra Advisory Services LLC and Kestra Investment Services LLC in San Diego, California, from October 31, 2016, to August 16, 2018. Keep reading to find out more about the disclosures involving Savarese.
Evidently, on December 22, 2023, a Kestra Investment Services LLC client filed FINRA Arbitration No. 23-03427 about Michele Savarese. Mainly, the client claimed that Savarese made unsuitable recommendations and misrepresentations. Because of this, the client allegedly sustained damages. For this reason, the client requested $100,000 in compensation from Kestra Investment Services LLC or Savarese. Supposedly, this claim awaits a resolution.
Specifically, a client of Forta Financial Group contested Michele Savarese’s conduct by filing FINRA Arbitration No. 21-01528. Allegedly, Savarese committed negligence, breach of fiduciary duty, negligent supervision, breach of contract, and unsuitable recommendations between 2014 and 2021. Therefore, Forta Financial Group opted to settle the dispute on June 28, 2021, by paying $100,000.
Particularly, a Forta Financial Group client filed FINRA Arbitration No. 21-01555 about Mike Savarese. Evidently, the client alleged that Savarese breached a contract, gave unsuitable advice, negligently supervised representatives, and was negligent relating to sales of non-traded real estate investment trusts and business development companies. As a result, on June 28, 2021, this matter remained pending in FINRA Dispute Resolution with the client seeking $95,000 in damages.
Also, a client of Presidential Brokerage Inc. disputed Michele Savarese’s sales practices, according to a complaint dated January 21, 2010. Allegedly, Savarese breached a fiduciary duty relating to sales of stocks, unit investment trusts, mutual funds, and over-the-counter equities. For this reason, the client sought compensatory damages from Presidential Brokerage Inc. or Savarese in the amount of $62,000 in this matter. The firm denied the complaint on February 11, 2010.
Are you concerned regarding investments you made with Michele Savarese? You should reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney regarding a possible recovery. Soreide Law Group has recovered losses for investors located throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Savarese and brokerage firms Savarese worked for deny allegations referenced within these public disclosures.
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