Transamerica Financial Advisor, Michael Lyle, Has Four Customer Complaints
Michael Lyle is a Financial Advisor at Transamerica Financial Advisors, Inc. in Hollywood, FL. Michael Lyle has been in the securities industry since 1994 and previously worked at World Group Securities, WMA Securities and Intersecurities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Michael Lyle is the subject of four customer complaints, alleging the following:
- January 2019 – “Claimant alleges that the product was misrepresented in that she was told she would receive returns of $7500 monthly and that the representative failed to inform her of the IRS penalties for early withdrawals.” The alleged damages are $100,000 and the matter is currently pending.
- June 2018 – “COMPLAINANT ALLEGED THAT PRODUCT PURCHASED WAS UNSUITABLE AND THAT REP. FAILED TO INFORM HER OF IRS PENALTY FOR EARLY WITHDRAWALS.” Alleged damages were $73,594.60.
- March 2009 – “CUSTOMER ALLEGES THAT HIS VARIABLE LIFE INSURANCE POLICY SHOULD HAVE BEEN WRITTEN FOR $200,000. HE IS REQUESTING THE RETURN OF PREMIUMS PAID.” Alleged damages were $5,000.
- September 2005 – “CLIENT ALLEGES THAT REPRESENTATIVE SAID THIS WAS AN INVESTMENT ACCOUNT.” Alleged damages were $6,000.
In addition, Michael Lyle discloses a 2007 $30,000 tax lien. For a copy of Michael Lyle’s CRD, click https://brokercheck.finra.org/individual/summary/2418644.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
- Cetera Investment Services LLC, Kevin McCoy II, Has Had Four Customer Complaint Disclosures Since December 2019
- National Securities Corporation Broker, Viqas Akhtar, Has Had Seven Customer Complaints Since December 2011
- Cadaret Grant & Co. Broker, Eugene Long, Suspended By FINRA For 15 Days, For Allegedly Exercising Discretion In Client Accounts Without Authority
- Former Private Client Services Broker, Michael Iannarino, Barred By FINRA, For Allegedly Selling Unregistered Promissory Notes To Customers
- Former Westpark Capital Broker, Gregory Ricker, Suspended Six Months By FINRA For Allegeding Engaging In Private Securities Transactions
- First Standard Financial Broker, Frank Venturelli, Suspended Eleven Months By FINRA For Allegedly Engaging In Excessive Trading
- Former RBC Capital Markets Broker, Barry Hartwyk, Suspended By FINRA For 15 Days For Allegedly Exercising Discretion In Client Accounts
- Morgan Stanley Broker, Albert Dishner, Suspended By FINRA For Ten Days For Allegedly Exercising Discretion In Customer Accounts
- Center Street Securities Financial Advisor, Seth Stewart, Has Two Disclosed Customer Complaints
- Arkadios Capital Financial Advisor, Kevin Rainwater, Has Four Disclosed Customer Complaints, And Tax Liens