Michael McNulty (CRD #: 1493933) a broker and an investment adviser with Lincoln Financial Advisors Corporation, is facing allegations that he recommended unsuitable investments, according to his BrokerCheck record accessed on August 26, 2020. This is not the only disclosure in Mr. McNulty’s record, and investors should be aware of the following information.
On July 9, 2020, a client alleged that Michel McNulty recommended unsuitable investments, from 2011 thru 2016. No damages were specified; the dispute is pending.
On July 25, 2016, a client alleged that Michael McNulty failed to diversify his portfolio and made material omissions. The client further alleges that Mr. McNulty was negligent, over-concentrated certain securities, made misrepresentations, and recommended unsuitable investments. The client sought $1,000,000; the dispute settled for $350,000.
Michael McNulty has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Series Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 24 General Securities Principal Examination.
Mr. McNulty is a registered broker in the following states: Arkansas, Delaware, Florida, Indiana, Maryland, Massachusetts, Missouri, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, and Virginia.
Mr. McNulty is also a registered investment adviser in Florida.
Before his registration with Lincoln Financial Advisors Corporation, Michael McNulty also worked at the following firms:
- Raymond James & Associates (CRD #: 705)
- UBS Painewebber Inc. (CRD #: 8174)
- Chatfield Dean & Co. Inc. (CRD #: 14714)
- The Stuart-James Company, Inc (CRD #: 11691)
If Michael McNulty was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.