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Michael Vetere Terminated from Ameritas

Michael VeterePublic records published by the Financial Industry Regulatory Authority (FINRA) on July 5, 2016 indicate that New Jersey-based TFS Investments broker Michael Vetere was recently discharged from Ameritas Investment Corporation. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Vetere (CRD# 4275271).

Michael Vetere has spent 15 years in the securities industry and has been registered with TFS Investments in Lincroft, New Jersey since April 2016. Previous registrations include Securian Financial Services in Parsippany, New Jersey; Ameritas Investment Corporation in Matawan, New Jersey; New England Securities in Uniondale, New Jersey; UBS Financial Services in New York, New York; Morgan Stanley DW in Purchase, New York; and First Capital Equities in Great Neck, New York. He is a registered broker with four US states and territories: California, Connecticut, New Jersey, and New York.

According to his BrokerCheck report, Michael Vetere was discharged from Ameritas Investment Corporation and resigned from New England Securities.

In March 2016, Michael Vetere was terminated from his position at Ameritas Investment Corporation following allegations he “facilitated the purchase of a $675,000 variable annuity contract without properly disclosing the source of funds to purchase this contract was from the surrender of a $700,000 universal life insurance policy.” He also allegedly “held customer funds and made inaccurate statements to Compliance personnel during the investigation,” and “submitted another variable annuity contract to a vendor prior to receiving the firm’s required pre-approval.”

In August 2010, Michael Vetere voluntarily resigned from his position at New England Securities “while under investigation regarding the placement of company business through the sale of an unapproved product outside of the enterprise general agency.”

If you have lost money investing with Michael Vetere, you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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