Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 2, 2018 indicate that California-based Independent Financial Group broker/adviser Michael Lincoln has received a customer dispute and a regulatory sanction. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lincoln (CRD# 1803278).
Michael Lincoln has spent 29 years in the securities industry and has been registered with Independent Financial Group in San Diego, California since 2016. Previous registrations include LPL Financial in San Diego, California (2004-2016); Raymond James Financial Services in St. Petersburg, Florida (2001-2004); Sunset Financial Services in Kansas City, Missouri (1998-2001); Guardian Investor Services Corporation in New York, New York (1997-1998); Washington Square Securities in Des Moines, Iowa (1996-1997); Fortis Investors in Oakdale, Minnesota (1988-1994; 1995-1995); and SME Capital Management Corporation (1988). He has passed six securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on November 5, 2002; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 13, 1991; Series 7 (General Securities Representative Examination), which he obtained on November 21, 2000; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on February 25, 1988; Series 24 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on December 21, 2004; and Series 26 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on August 8, 1990. He is a registered broker and investment adviser with seven US states: California, Nevada, New Mexico, North Carolina, Tennessee, Virginia, and Wisconsin.
According to his BrokerCheck report, Michael Lincoln has received one FINRA sanction and one customer complaint.
In January 2017 a party of customers alleged Michael Lincoln, while employed at LPL Financial, breached his fiduciary duty, committed fraud, employed unfair business practices, violated California corporations laws, acted negligently, recommended unsuitable investments, and made “conspiracy failures” in connection with loans they made to another representative to develop an investment property. The complaint settled in April 2017 for $275,000.
In 2016 FINRA sanctioned him in connection to allegations he failed to supervise a representative who participated in an outside business activity that was not disclosed to or approved by the firm, and who received unauthorized loans from a client to fund the activity. FINRA found that Mr. Lincoln made false statements to his firm regarding the representative and a loan he provided to the representative in connection to the representative’s business. He was issued a fine of $15,000, a six-month suspension from acting in a principal capacity, and a four-month suspension from acting in any capacity.
If you have complaints regarding Michael Lincoln, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.