Christopher Miller (CRD#: 4044818), a registered representative with Emerson Equity LLC (CRD#: 130032) in San Mateo, California, is currently involved in a pending customer dispute with an elderly client over a securitized Tenant-in-Common investment, according to his BrokerCheck record accessed on March 25, 2020.
How did this dispute come about? On February 23, 2020, a client filed a dispute against Christopher Miller, alleging that he engaged in financial elder abuse. The client is seeking $292,000 in damages, alleging that his property hasn’t sold.
Securitized Tenant-in-Common investments allow investors to take partial undivided ownership of a property. Investors can then defer taxes on any capital gains by executing a “1031 Exchange,” buying another “like-kind” property with those gains. Despite these purported advantages, however, securitized TICs come with many drawbacks. Securitized TICs are illiquid and are not suitable for investors who need easy access to the cash value of their investment; there is no secondary market for securitized TICs. For more information about securitized Tenant-In-Common investments, please see our page on Tenant-in-Common Investments (TICs).
This is not the only disclosure on Christopher Miller’s BrokerCheck record. He has also been the subject of another customer complaint and was also terminated from MCL Financial Group.
On October 31, 2019, a client filed a customer complaint against Christopher Miller, alleging that he sold unsuitable private placements, violated the California Corporations Code, and committed financial elder abuse, among other allegations. Private placements, also known as alternative investments, should only be recommended to “accredited investors” with a high net worth and a high degree of financial sophistication. The client is seeking $104,500 in damages; the dispute is pending.
On April 23, 2007, MCL Financial Group, Inc. terminated Christopher Miller after the firm found that he failed to obtain firm approval before sending out sales material and that the sales material included an unapproved outside business activity. The firm also found that Christopher Miller took client information from a company database and was conducting a securities business while not registered with a broker-dealer. Christopher Miller’s conduct was problematic because he engaged in “selling away,” peddling unapproved securities and setting clients up for potential losses.
Over his 18-year career in the securities industry, Christopher Miller has worked for 11 brokerage firms. In addition to Emerson Equity LLC (CRD#: 130032), he has also worked for:
- Sandlapper Securities LLC (CRD#: 137906)
- Allied Beacon Partners, Inc. (CRD#: 46227) — expelled by FINRA on December 19, 2013
- American Beacon Partners (CRD#: 15791)
- Private Asset Group, Inc. (CRD#: 142541)
- Financial Advisers of America LLC (CRD#: 142170)
- Girard Securities, Inc. (CRD#: 18697)
- Midpoint Financial Services, Inc. (CRD#: 131784)
- MCL Financial Group, Inc. (CRD#: 41180)
- NNN Capital Corp. (CRD#: 17932)
- Morgan Stanley DW Inc. (CRD#: 7556)
If Christopher Miller was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for recovery. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.