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Michael Blueweiss Of Arete Wealth Management, LLC And Formerly With National Securities Corporation Has 8 Customer Complaints For Alleged Broker Misconduct

Who is Michael Blueweiss of Arete Wealth Management, LLC?

Michael Blueweiss

Michael Blueweiss (CRD #728969) who is currently registered as a broker and investment adviser with Arete Wealth Management, LLC and located in Melville, New York, is a subject of one of our many securities industry sales practice abuse investigations. Prior to Arete Wealth Management, LLC, Michael Blueweiss was associated with National Securities Corporation and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Michael Blueweiss was terminated by UBS Financial Services after a firm investigation concluded he violated the firm’s order entry policy and also violated the firm’s policy by signing a client’s name to a non-firm related document.

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Michael Blueweiss Customer Complaints

Michael Blueweiss has been the subject of 8 customer complaints that we know about seeking to recover investment losses. Two of the customer complaints were settled by UBS Financial Services in favor of the investors. Michael Blueweiss’ former employer denied 5 other customer complaints and the investors took no further action. There is currently one customer complaint that was recently filed before FINRA dispute resolution that is still pending in arbitration.

Allegations Against Michael Blueweiss

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Unsuitable investment recommendations involving common and preferred stocks.
  • Churning.
  • Misrepresentation of Globalstar Senior Note.
  • Unsuitable recommendation of equity investments instead of income producing securities which customer needed.
  • Unsuitable recommendation and overconcentration of customer’s assets in structured products and annuities.
  • Failure to disclose surrender penalties related to annuities.
  • Unsuitable recommendation to invest in reverse convertible securities
  • Misrepresentation, unsuitability, and unauthorized trading.
  • Theft of funds.

Michael Blueweiss Red Flags & Your Rights As An Investor

Of course, Michael Blueweiss did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Michael Blueweiss at Arete Wealth Management, LLC and National Securities Corporation on alert to review carefully the activity and performance of their accounts and question whether Michael Blueweiss has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Arete Wealth Management, LLC and National Securities Corporation also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

Did You Lose Money Because of Broker Misconduct?

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If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.

Need Legal Help? Let’s talk.

or, give us a ring at 561-338-0037.

File A Claim To Recover Your Investment Losses At Arete Wealth Management, LLC Due To Michael Blueweiss

If you have questions about Arete Wealth Management, LLC, National Securities Corporation and/or Michael Blueweiss and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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