Advisor Alert: Our Attorneys Are Investigating Archibald William McMichael III For Investment Fraud
Did You Lose Money Because of Bill McMichael III?
Filed: October 30, 2023
Bill McMichael III (also known as Archibald William McMichael and Billy McMichael IIl) currently has one (1) pending customer complaint. Overall, he has been the subject of one (1) termination event and two (2) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Bill McMichael III.
Who Is Archibald William McMichael III of Avantax Investment Services, Inc. and Avantax Advisory Services?
- Advisor Name: Archibald William McMichael III
- Aliases: Archibald William McMichael, Bill McMichael III, Billy McMichael III, A William McMichael, Awilliam McMichael
- CRD: 2997111
- Location: Wayne, Pennsylvania
- Current Employer: Avantax Investment Services, Inc. and Avantax Advisory Services
- Previous Firms: Lifemark Securities Corp., and LPL Financial LLC
- Number of Known Customer Complaints: 2
- Number of Known Termination Events: 1
- Can Archibald McMichael III Be Sued: Yes, in Private Arbitration
- Can Archibald McMichael III’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $105,000
- Highest Settlement: Unknown
If you have suffered investment losses by Archibald McMichael III, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Bill McMichael III For Broker Misconduct
As of this publication date, Billy McMichael III has been the subject of 1 termination event and 2 customer disputes. Let’s review them below.
In February 2019, a FINRA arbitration was filed against or in reference to Archibald McMichael III by a customer of LifeMark Securities Corp. alleging unsuitable investment advice, inadequate due diligence and concentration of illiquid investments despite the fact that the client insisted on concentration of this type of investments.
In June 2023, a FINRA arbitration was filed against or in reference to Archibald McMichael III by a customer of LifeMark Securities Corp. alleging an investment in an alternative product, intended to be a small component of a larger diversified portfolio. Unfortunately, the company that issued the investment has since filed Chapter 11 bankruptcy. As a result, the client is alleging insufficient due diligence, violation of Pennsylvania Unfair Trade Practices and Consumer Protection Law, breach of contract, common law fraud, breach of fiduciary duty, and negligence. Per the customer, he/she lost over $105,000 because of Mr. McMichael III’s actions. As of this publication date, this claim is still pending.
In December 2011, LPL Financial LLC terminated Archibald McMichael III for violation of the firm’s document signature policy.
How To File A Claim Against Bill McMichael III of Avantax Investment Services, Inc. and Avantax Advisory Services (previously with Lifemark Securities Corp., and LPL Financial LLC) To Get Your Money Back.
If you have questions about Archibald McMichael III, Avantax Investment Services, Inc., Avantax Advisory Services, Lifemark Securities Corp., LPL Financial LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.