National investment loss lawyers KlaymanToskes is investigating broker Michael Magruder, formerly of Raymond James & Associates, Inc. (CRD #4579211).
According to FINRA BrokerCheck, Michael Magruder, a former financial advisor at Raymond James & Associates, Inc., has a pending investor complaint, and has been terminated by the firm following allegations that he failed to follow firm procedures regarding customer loans and non-compliance with firm policies requiring updates to registration Form U4.
Investors that suffered losses with broker Michael Magruder are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Michael Edwin Magruder, who used to work with Raymond James & Associates, Inc. in Orlando, FL, is facing a complaint from an investor. According to his FINRA BrokerCheck report, Magruder allegedly did not update his registration Form U4 as required by company policies, and was terminated from Raymond James in July 2024. Magruder failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance, and was suspended by FINRA. In the past, Magruder settled a customer complaint involving similar issues. In that case, a client alleged they gave a personal loan to Magruder at his request, which led to a settlement of $189,259.57.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Michael Magruder. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Michael Magruder, or have concerns regarding your investment portfolio at Raymond James & Associates, Inc., contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.