Our firm is investigating The Leaders Group, Inc. financial advisor John Michael Pulliam (CRD# 2224237) of Summit, New Jersey for potential investment-related misconduct.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, John Michael Pulliam has worked in the securities industry with the following firms, among others:
- The Leaders Group, Inc. (Summit, NJ) — Registered since 12/01/2025
- Raymond James Financial Services, Inc. / Raymond James Financial Services Advisors, Inc. (Crested Butte, CO) — 09/2019 to 09/2025
- UBS Financial Services Inc. (Plano, TX) — 11/2011 to 09/2019
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (Plano, TX) — 05/2006 to 12/2011
- Citigroup Global Markets Inc. (Plano, TX) — 03/1994 to 05/2006
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (New York, NY) — 06/1992 to 08/1993
John Michael Pulliam Fraud Allegations and Investor Complaints Explained
Customer Complaint Alleging Variable Annuity Misrepresentation (2002; Complaint Received 2003)
FINRA BrokerCheck reflects a customer dispute reporting that a client alleged a variable annuity was misrepresented in or around 2002 while Pulliam was associated with Citigroup Global Markets Inc. The complaint was received on 08/06/2003, alleged damages were unspecified but in excess of $5,000, and the matter was reported as Denied with a status date of 10/13/2003.
Customer Complaint Alleging Failure to Liquidate and Misrepresentation of Account Value (June 2002; Complaint Received 2003)
BrokerCheck also lists a customer complaint stating the client alleged their instructions to liquidate a managed account were not followed and that the value of the account was misrepresented in June 2002, while the employing firm was listed as Smith Barney. The complaint was received on 04/04/2003, alleged damages were $6,203.62, and the matter was reported as Denied with a status date of 04/22/2003.
Employment Termination After Allegations: Discharged by Raymond James (September 2025)
BrokerCheck further reports an employment separation event indicating Pulliam was discharged by Raymond James Financial Services, Inc. on 09/10/2025. The stated allegation was that he “engaged in conduct inconsistent with firm policies on outside business activities.”
Disclosure summary (as reflected on BrokerCheck):
- Customer Dispute (Denied) — Variable annuity alleged misrepresentation; activity year 2002; complaint received 08/06/2003; damages > $5,000 (unspecified); status date 10/13/2003.
- Customer Dispute (Denied) — Alleged failure to liquidate managed account and misrepresentation of account value; June 2002; complaint received 04/04/2003; damages $6,203.62; status date 04/22/2003.
- Termination (Discharged) — Raymond James Financial Services, Inc.; termination date 09/10/2025; alleged conduct inconsistent with firm policies on outside business activities.
To obtain a copy of John Michael Pulliam’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) is implicated when an advisor recommends a securities transaction or investment strategy without a reasonable basis, or without ensuring it is consistent with the customer’s investment profile. In the context of allegations involving a variable annuity and alleged account-related misrepresentations, suitability concerns can arise if the product’s risks, costs, liquidity features, and time horizon were not appropriately matched to the client’s objectives—or if material features were not fully and fairly explained.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) broadly requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Allegations that a client’s instructions to liquidate a managed account were not followed, or that an account value was misrepresented, may raise concerns under Rule 2010 because accurate communications and faithful execution of customer instructions are core expectations for registered representatives.
FINRA Rule 3270 (Outside Business Activities of Registered Persons) requires registered persons to provide prior written notice to their member firm before engaging in business activities outside the scope of their relationship with the firm. Where a firm reports a discharge for conduct allegedly inconsistent with policies governing outside business activities, it can suggest issues around disclosure, supervision, and conflicts—particularly if an outside activity overlaps with client-facing financial services or creates incentives not fully transparent to the firm and customers.
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.
