Advisor Alert: Our Attorneys Are Investigating Michael Raymond Frager For Investment Fraud
Did You Lose Money Because of Michael Frager?
Filed: February 21, 2024
Michael Frager (also known as Michael R Frager) currently has two (2) pending customer complaints. Overall, he has been the subject of ten (10) customer complaints and one (1) termination event. 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 Michael Raymond Frager.
Who Is Michael Raymond Frager of Balboa Wealth Partners, Inc. and Willow Cove Investment Group, Inc.?
- Advisor Name: Michael Raymond Frager
- Aliases: Michael R Frager
- CRD: 1230622
- Location: La Jolla, California and Winneconne, Wisconsin
- Current Employer: Balboa Wealth Partners, Inc. and Willow Cove Investment Group, Inc.
- Previous Firms: Integrity Brokerage Services, Inc. and Centaurus Financial, Inc.
- Number of Known Customer Complaints: 10
- Number of Known Termination Events: 1
- Can Michael Frager Be Sued: Yes, in Private Arbitration
- Can Michael Frager’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $15,000,000
- Highest Settlement: $200,000
If you have suffered investment losses by Michael Frager, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stock market losses 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 Michael Frager For Broker Misconduct
As of this publication date, Michael Frager has been the subject of 10 customer disputes and 1 termination event. Let’s review them below.
In January 2024, a FINRA arbitration was filed against or in reference to Michael Frager by a customer of Integrity Brokerage Services, Inc. alleging unsuitable investment recommendation in November 2018. Per the customer, he/she lost over $125,000 because of Mr. Frager’s actions. As of this publication date, this claim remains pending.
In November 2022, a FINRA arbitration was filed against or in reference to Michael Frager by a customer of Integrity Brokerage Services, Inc. alleging unsuitable investment recommendation. Per the customer, he/she lost over $125,000 because of Mr. Frager’s actions. As of this publication date, this claim remains pending.
In December 2001, a complaint was filed against or in reference to Michael Frager by a customer of Banc of America Investment Services, Inc. alleging unsuitable changes in investment portfolio. The client lost liquidity and assumed additional risk. Per the customer, he lost over $4,200 because of Mr. Frager’s actions. On May 4, 2002, Mr. Frager settled the claim for $5,943.50, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In April 2001, a complaint was filed against or in reference to Michael Frager by a customer of Banc of America Investment Services, Inc. alleging that liquidation of mutual funds and switch to variable annuity in March of 2000 was unsuitable and sales charges associated with switch were not disclosed. On March 27, 2002, Mr. Frager settled the claim for $10,749.70, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In May 2000, a complaint was filed against or in reference to Michael Frager by a customer of Banc of America Investment Services, Inc. alleging breach of fiduciary duty, professional negligence, and fiduciary abuse of an elder. Per the customer, he/she lost over $15,000,000 because of Mr. Frager’s actions. On December 15, 2000, Mr. Frager settled the claim for $200,000, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In November 1994, a complaint was filed against or in reference to Michael Frager by a customer of Prudential Securities alleging unsuitable investments. Per the customer, he/she lost over $44,000 because of Mr. Frager’s actions. On January 16, 1995, Mr. Frager settled the claim for $25,000, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In September 1994, a NASD arbitration was filed against or in reference to Michael Frager by a customer of Smith Barney alleging suitability of investments for an 87 years old client. Per the customer, he/she lost over $48,488 because of Mr. Frager’s actions. On May 20, 1996, Mr. Frager settled the claim for $28,500, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In September 1994, a complaint was filed against or in reference to Michael Frager by a customer of Prudential Securities Inc. alleging suitability of investments for an 87 years old client. Per the customer, he/she lost over $48,488 because of Mr. Frager’s actions. On June 12, 1995, Mr. Frager settled the claim for $28,500, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In August 1994, a complaint was filed against or in reference to Michael Frager by a customer of Prudential Securities Inc. alleging excessive margin trading in speculative stock with damages in the neighborhood. Per the customer, he/she lost over $250,000 because of Mr. Frager’s actions. On September 10, 1996, Mr. Frager settled the claim for $72,500, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In August 1994, a complaint was filed against or in reference to Michael Frager alleging misrepresentation of stocks. On May 20, 1996, Mr. Frager settled the claim for $28,000, and some or all of this amount may have been paid by Mr. Frager’s employer and/or insurance carrier.
In August 1994, Prudential Securities Incorporated terminated Michael Frager for unauthorized trade.
How To File A Claim Against Michael Frager of Balboa Wealth Partners, Inc. and Willow Cove Investment Group, Inc. (previously with Integrity Brokerage Services, Inc. and Centaurus Financial, Inc.) To Get Your Money Back
If you have questions about Michael Frager, Balboa Wealth Partners, Inc., Willow Cove Investment Group, Inc., Integrity Brokerage Services, Inc., Centaurus Financial, Inc., 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.