Financial Advisor Michael Montalvo Barred By FINRA

• October 14, 2026
• Wells Fargo Advisors

Michael Montalvo (CRD# 4549103) of Orlando, Florida, formerly with Raymond James & Associates, Inc., was discharged by Raymond James in June 2025 over alleged borrowing from clients. He is the subject of a pending customer dispute alleging that he took an undisclosed loan of $189,500 and failed to repay it. FINRA permanently barred him on August 24, 2026 after he failed to respond to requests for information.

Broker’s History

According to his FINRA BrokerCheck report, Montalvo entered the industry in 2002 and is not currently registered. All of his registrations were in Orlando, Florida:

• Raymond James & Associates, Inc., April 2020 to June 2025
• Cetera Investment Services LLC, March 2019 to April 2020
• International Assets Advisory, LLC and IAA Financial LLC, May 2014 to September 2014
• Wells Fargo Advisors, LLC, November 2008 to April 2014
• SunTrust Investment Services, Inc., July 2002 to October 2008

Termination by Raymond James (June 2025)

BrokerCheck reports that Raymond James discharged Montalvo on June 18, 2025. He was alleged to have engaged in conduct inconsistent with firm policies on borrowing from clients.

Customer Disputes

• December 11, 2025 (pending): A client alleges that Montalvo took an undisclosed loan and failed to repay it, with activity from May 2024 through December 2025. The client seeks $189,500.
• June 9, 2025 (settled, $32,169.04): A client alleged that Montalvo took an undisclosed loan and failed to repay it. Damages requested were $30,000.

The pending dispute’s allegations have not been proven, and settlements are not admissions of wrongdoing.

FINRA Suspension and Bar

According to FINRA’s August 2026 Disciplinary and Other FINRA Actions report, FINRA suspended Montalvo on June 12, 2026 under FINRA Rule 9552 for failing to provide information or keep information current. BrokerCheck reports that the suspension became a permanent bar on August 24, 2026 because he did not request termination of the suspension within three months.

Applicable FINRA Rules and Legal Standards

FINRA Rule 3240 generally prohibits a registered person from borrowing money from a customer. A limited exception applies when the firm has written procedures allowing the arrangement, the arrangement fits a permitted category (such as an immediate family member or a financial institution), and the firm is notified and, in most cases, approves. An undisclosed loan from a client defeats the firm’s ability to protect the customer. It may also breach the broker’s duties to the customer and FINRA Rule 2010. FINRA Rule 3110 requires firms to reasonably supervise their representatives, including monitoring for red flags of customer loans.

What This Means for Investors

Two customers have now alleged that Montalvo borrowed money and did not repay it. Other clients who lent him money, or whose accounts show unexplained withdrawals, should review their records. Investors may have claims for broker theft, breach of fiduciary duty, and the brokerage firm’s failure to supervise. Claims may be brought in FINRA arbitration, generally within six years under FINRA Rule 12206.

The Wolper Law Firm, P.A. represents investors throughout the country in securities arbitration and litigation, typically on a contingency fee basis. Matt Wolper, the firm’s managing principal, is a trial attorney who has handled more than 1,000 securities cases. If you lent money to or did business with Michael Montalvo, contact us for a free consultation at 800.931.8452 or mwolper@wolperlawfirm.com.