Michael Morrissett (CRD#: 1456789) is a FINRA registered broker who is currently employed at Wells Fargo Clearing Services in Roanoke, Virginia. Mr. Morrissett has been a representative of this brokerage firm since 2000.
Currently, there are four different disclosures listed on Mr. Morrissett’s FINRA BrokerCheck record. In this article, our securities fraud attorneys review the two most recent investor complaints that have been filed against this broker.
Investor Complaints: Michael Morrissett
In 2014, an investor filed a complaint against Wells Fargo broker Michael Morrissett. The investor alleged that Mr. Morrissett crafted an unsuitable investment strategy. As a result of this strategy, she was overexposed to downside risk in equity markets. Without admitting or denying wrongdoing in this case, Mr. Morrissett agreed to settle this claim for $85,000.
In April of 2018, an investor filed a complaint alleging losses due to material misrepresentations made by Mr. Morrissett. According to the investor, this broker misrepresented the risks associated with investments made into two hedge funds. This investor is currently seeking $2.3 million in financial compensation. As of late June of 2018, this investigation is currently listed as pending by FINRA.
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