Did You Lose Money Because of Mike Valenta?
Filed: October 26, 2023
Mike Valenta currently has two (2) pending customer complaints. Overall, he has been the subject of seven (7) 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 Joseph Valenta.
Who Is Michael Joseph Valenta of Cambridge Investment Research, Inc., and Cambridge Investment Research Advisors, Inc.,?
- Advisor Name: Michael Joseph Valenta
- Aliases: Mike Valenta
- CRD: 1386978
- Location: Westminster, Colorado
- Current Employer: Cambridge Investment Research, Inc., and Cambridge Investment Research Advisors, Inc.,
- Previous Firms: Valenta Capital Management, Inc., and RMIN Securities, Inc.
- Number of Known Customer Complaints: 7
- Can Mike Valenta Be Sued: Yes, in Private Arbitration
- Can Mike Valenta’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $800,000
- Highest Settlement: $595,000
If you have suffered investment losses by Mike Valenta, 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 Mike Valenta For Broker Misconduct
As of this publication date, Mike Valenta has been the subject of 7 customer disputes. Let’s review them below.
In July 2023, a FINRA arbitration was filed against or in reference to Mike Valenta by a customer of Cambridge Investment Research, Inc. alleging that Mr. Valenta made an investment recommendation for the purpose of generating high commissions and fees and that claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio. As of this publication date, this arbitration remains pending.
In July 2022, a FINRA arbitration was filed against or in reference to Mike Valenta by a customer of Cambridge Investment Research, Inc. alleging that Mr. Valenta made recommendations that did not align with the Claimant’s suitability. As of this publication date, this arbitration remains pending.
In June 2022, a FINRA arbitration was filed against or in reference to Mike Valenta by multiple customers of Cambridge Investment Research, Inc. alleging that Mr. Valenta made an investment recommendation for the purpose of generating high commissions and fees and that claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio. On July 30, 2023, Mr. Valenta settled the claim for $575,000, and some or all of this amount may have been paid by Mr. Valenta’s employer and/or insurance carrier.
In May 2022, a FINRA arbitration was filed against or in reference to Mike Valenta by multiple customers of Cambridge Investment Research, Inc. alleging that Mr. Valenta made an investment recommendation for the purpose of generating high commissions and fees and that claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio. Per the customers, they lost over $800,000 because of Mr. Valenta’s actions. On May 18, 2023, Mr. Valenta settled the claim for $595,000, and some or all of this amount may have been paid by Mr. Valenta’s employer and/or insurance carrier.
In June 2009, a complaint was filed against or in reference to Mike Valenta by multiple customers of Cambridge Investment Research, Inc. alleging unauthorized trading and breach of fiduciary duty. The clients added that Mr. Valenta did not explain how moving accounts would change their contract, and that sales proceeds reinvested, or were set to reinvest, when they were not supposed to be. Per the customers, they lost over $20,000 because of Mr. Valenta’s actions.
In May 2009, a FINRA arbitration was filed against or in reference to Mike Valenta by multiple customers of RMIN Securities, Inc. alleging that the VUL Policy purchased in 2007 was unsuitable. The clients claim to have asked for a policy that would allow them to begin drawing cash withdrawals in 13 years. The policy has a large death benefit, which they did not want, and a surrender period of 15 years. Per the customers, they lost over $80,000 because of Mr. Valenta’s actions. On April 20, 2010, Mr. Valenta settled the claim for $20,000.
In October 2008, a complaint was filed against or in reference to Mike Valenta by a customer of RMIN Securities, Inc. alleging client invested in variable annuity on January 5, 2007 that was unsuitable. Additionally, Mr. Valenta allegedly misrepresented the product and monthly premiums were too expensive. Per the customer, he/she lost over $13,244 because of Mr. Valenta’s actions.
How To File A Claim Against Michael Valenta of Cambridge Investment Research, Inc., and Cambridge Investment Research Advisors, Inc., (previously with Valenta Capital Management, Inc., and RMIN Securities, Inc.) To Get Your Money Back.
If you have questions about Mike Valenta, Cambridge Investment Research, Inc., Cambridge Investment Research Advisors, Inc., Valenta Capital Management, Inc., RMIN 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. Our team has recovered approximately $25 million dollars on behalf of investors who lost money due to bad advice by their broker or brokerage firm. We’d love to help you out too.
