Advisor Alert: Our Attorneys Are Investigating Michael Andrew Tutcher For Investment Fraud
Did You Lose Money Because of Michael Tutcher?
Filed: January 24, 2024
Michael Tutcher has been the subject of six (6) 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 Michael Andrew Tutcher.
Who Is Michael Andrew Tutcher of Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc.?
- Advisor Name: Michael Andrew Tutcher
- Aliases: Michael Tutcher
- CRD: 2306833
- Location: Sarasota, Florida
- Current Employer: Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc.
- Previous Firms: Raymond James & Associates, Inc. and Metlife Securities Inc.
- Number of Known Customer Complaints: 6
- Can Michael Tutcher Be Sued: Yes, in Private Arbitration
- Can Michael Tutcher’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $386,000
- Highest Settlement: $230,000
If you have suffered investment losses by Michael Tutcher, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty 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 Tutcher For Broker Misconduct
As of this publication date, Michael Tutcher has been the subject of 6 customer disputes. Let’s review them below.
In January 2019, a complaint was filed against or in reference to Michael Tutcher by a customer of Raymond James Financial Services, Inc. alleging that investments were unsuitable. Per the customer, he/she lost over $250,000 because of Mr. Tutcher’s actions.
In December 2012, a FINRA arbitration was filed against or in reference to Michael Tutcher by a customer of Raymond James & Associates, Inc. alleging violation of Florida Securities Act, equitable rescission, breach of fiduciary duty, negligence, breach of contract, fraud, and negligent misrepresentation. Per the customer, he/she lost over $386,000 because of Mr. Tutcher’s actions. On April 3, 2014, Mr. Tutcher settled the claim for $230,000, and some or all of this amount may have been paid by Mr. Tutcher’s employer and/or insurance carrier.
In February 2010, a complaint was filed against or in reference to Michael Tutcher by a customer of Raymond James Financial Services, Inc. alleging misrepresentation. Per the customer, he/she lost over $29,101 because of Mr. Tutcher’s actions.
In June 2006, a complaint was filed against or in reference to Michael Tutcher by a customer of Metlife alleging that Mr. Tutcher advised the client that the policy he surrendered from crown life associates to a Metlife variable universal life insurance policy in February of 1999 would be tax free and that was not the case. The client also alleges that Mr. Tutcher did not mention that the variable universal life insurance policy would be tied up in the stock market and that he thought it was a whole life insurance policy. Per the customer, he lost over $13,257.19 because of Mr. Tutcher’s actions.
In October 2003, a complaint was filed against or in reference to Michael Tutcher by a customer of Metlife alleging that Mr. Tutcher improperly invested their funds in a too heavily equity concentrated portfolio. Per the customer, he lost over $100,000 because of Mr. Tutcher’s actions.
In March 2002, a NASD arbitration was filed against or in reference to Michael Tutcher by a customer of Metlife alleging that Mr. Tutcher intentionally or negligently failed to advise the client that the investments he recommended were unduly risky and unsuitable for her and that he failed to advise her of the tax consequences she would experience as a result of the recommendation. Per the customer, he/she lost over $134,000 because of Mr. Tutcher’s actions. On June 30, 2003, Mr. Tutcher settled the claim for $70,000, and some or all of this amount may have been paid by Mr. Tutcher’s employer and/or insurance carrier.
How To File A Claim Against Michael Tutcher of Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc. (previously with Raymond James & Associates, Inc. and Metlife Securities Inc.) To Get Your Money Back
If you have questions about Michael Tutcher, Raymond James Financial Services, Inc., Raymond James Financial Services Advisors, Inc., Raymond James & Associates, Inc., Metlife Securities 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.