Our firm is investigating Fidelity Brokerage Services LLC and Strategic Advisers LLC broker and investment adviser Michael Gibson (CRD# 4423740) of Sarasota, Florida for potential investment-related misconduct.
Financial Advisor’s Career History
Michael Gibson is currently registered with Fidelity Brokerage Services LLC (since March 16, 2017) and Strategic Advisers LLC (current registration effective March 31, 2025) with a branch office at 201 N Cattlemen Rd, Sarasota, FL 34243. He is licensed with two SROs and in numerous U.S. states and territories, and he holds the Certified Financial Planner (CFP) designation.
Prior registrations include:
- Fidelity Personal and Workplace Advisors (IA) — 07/2018 to 03/2025 (Boston/Sarasota)
- Strategic Advisers LLC (IA) — 05/2017 to 07/2018 (Boston/Thousand Oaks)
- Principal Funds Distributor, Inc. (B) — 02/2012 to 01/2017 (Des Moines, IA)
- Raymond James Financial Services, Inc. / Advisors, Inc. (B/IA) — 06/2009 to 01/2012 (Fort Bragg, CA)
- Wells Fargo Advisors Financial Network, LLC (B/IA) — 06/2005 to 06/2009 (Fort Bragg, CA)
- Edward Jones (B) — 09/2001 to 06/2005 (St. Louis, MO)
Michael Gibson Fraud Allegations and Investor Complaints Explained
FINRA-reported customer dispute (Pending):
- Allegation: Customer claims unsuitable recommendations by the advisor from 2006 through 2008 while at Wells Fargo Advisors Financial Network, LLC.
- Case status: Civil litigation pending in Superior Court of California, County of Ventura; Notice/Process served March 29, 2024; Docket/Case # 2024CUNP022434.
- Damages: Customer seeks unspecified compensatory damages (alleged damages field shows $0.00 because the amount is not specified).
FINRA-reported financial disclosures (Final):
- Compromise with creditor — Chase Bank Home Lending: Original balance $91,420.04; settled April 20, 2016 with $6,000 paid via short-sale proceeds.
- Compromise with creditor — Citi Mortgage: Original balance $480,000.00; disposition Satisfied/Released on April 13, 2016 with payoff $435,713.13; broker statement references short sale of home.
Summary of Disclosures (per FINRA)
- Customer Dispute (Pending): Unsuitable recommendations alleged (activity period 2006–2008; case filed in Ventura County, CA; process served 03/29/2024; Case # 2024CUNP022434). Disposition: Pending.
- Financial Disclosure (Final) #1: Compromise with Chase Bank Home Lending; Disposition: Settled (04/20/2016); Original Amount: $91,420.04; Payment: $6,000.
- Financial Disclosure (Final) #2: Compromise with Citi Mortgage; Disposition: Satisfied/Released (04/13/2016); Original Amount: $480,000.00; Payoff: $435,713.13.
To obtain a copy of Michael Gibson’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Why investors contact our firm
Investors harmed by alleged unsuitable recommendations or other misconduct may be able to pursue recovery through FINRA arbitration or litigation. We investigate timelines, products, and supervisory red flags to build the strongest possible case.
What we look for in these cases
We evaluate the suitability profile (customer’s age, financial situation, investment objectives, risk tolerance, and liquidity needs), product characteristics, and whether the firm supervised the recommendations consistent with FINRA rules.
In the context of the allegations above, several FINRA rules commonly apply:
FINRA Rule 2111 (Suitability). Rule 2111 requires that a broker have a reasonable basis to believe a recommendation is suitable for a customer based on the customer’s investment profile. When a customer alleges unsuitable recommendations (2006–2008), the analysis focuses on whether the products’ risks, costs, and concentration fit the customer’s objectives and risk tolerance at that time, and whether the broker performed reasonable diligence on the products and matched them properly to the client’s profile.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade). Even when a rule-specific violation is not proven, conduct that falls short of high standards of commercial honor and just and equitable principles of trade may violate Rule 2010. Allegations of recommending mismatched or overly risky strategies, mischaracterizing risk, or failing to consider costs can implicate Rule 2010 when tied to unsuitable activity.
FINRA Rule 3110 (Supervision). If the alleged unsuitability occurred while the broker was associated with a firm, supervisory systems are examined. Firms must establish and maintain a system to supervise activities reasonably designed to achieve compliance with securities laws and FINRA rules. In cases like the one pending in Ventura County, California, investigators review whether the firm’s reviews, exception reports, and approvals were adequate to detect or prevent unsuitable recommendations.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
