Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 31, 2018 indicate that former South Carolina-based Dempsey Lord Smith broker/adviser Michael Lessard recently resigned from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lessard (CRD# 5968857).
Michael Lessard has spent five years in the securities industry and was most recently registered with Dempsey Lord Smith in Rock Hill, South Carolina (2017-2018). Previous registrations include Southeast Investments in Charlotte, North Carolina (2014-2017); Metlife Securities in Charlotte, North Carolina (2012-2014); and Northwestern Mutual Investment Services in Charlotte, North Carolina (2012). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on March 27, 2014; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 7, 2012; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on May 17, 2012. He is currently not registered as a broker with any state or firm.
According to his BrokerCheck report, he has received one FINRA sanction, resigned from a former employer in connection to alleged rule violations, and was discharged from another former employer in connection to alleged rule violations.
In July 2018 he resigned from his position at Palmetto Premier Advisors following allegations involving “improper borrowing of client funds that were repaid.”
In 2016 FINRA sanctioned him following allegations he forged a client’s name on an application for a fixed annuity investment and additionally falsified his firm’s client contact log, causing his firm’s books and records to be inaccurate. According to FINRA’s findings, he realized he had failed to submit a customer’s application for processing three weeks after the customer signed it, at which point the application had expired. He created a new application and forged the client’s signature on it by tracing the previous one, and “entered false information on the firm’s customer contact log.” Specifically, he indicated on the log that he had spoken with the customer on a certain date regarding the application, when he had in fact spoken with the customer several weeks beforehand. He was issued a four-month suspension and a fine of $10,000.
In 2014 he was terminated from his position at MetLife following allegations he “admitted to not following company policy” concerning record-keeping and client signatures on account documents.
If you or someone you know has complaints regarding Michael Lessard, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.