Former Concorde Investment Services, LLC and Triad Advisors LLC Broker Joseph Michaletz GPB Capital Holdings Investment Loss Options

Dai Wealth

There are options for clients of Dai Wealth, LLC broker Joseph Michaletz (CRD# 1327534) who suffered investment losses in GPB Capital Holdings’ private placements. Joseph Michaletz has been registered with Dai Securities, LLC in Mankato, Minnesota since 2018 and with DAI Wealth, LLC in Atlanta, Georgia since 2006.

GPB Capital Losses with Joseph Michaletz

Michaletz has been the subject of 13 customer complaints between 2019 and 2021, one of which was withdrawn, according to his CRD report:

  • August 2021. “Claimant alleges the representative recommended an investment that was unsuitable.” The customer is seeking $70,000 in damages.
  • March 2021. “Claimants allege unsuitable recommendation and overconcentration of private placements.” The customer is seeking $2,550,000 in damages.
  • February 2021. “Claim alleges breach of fiduciary duty, unsuitable recommendations, fraudulent or negligent misrepresentations or omissions, and violation of FINRA rules 2010 and 2020, in connection with investments made in 2013-2018.” The customer is seeking $457,000 in damages.
  • July 2020. “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $225,000 in investments made between 2015 – 2018.” The customer is seeking $12,261.52 in damages. The case was regarding direct investments and took place while Joseph Michaletz was registered with Triad Advisors, Inc, Concorde Investment Services, LLC, and DAI Securities, LLC.
  • July 2020. “Claimant alleges he purchased unsuitable alternative investments between 2012 and 2015.” The case was settled for $55,000.
  • July 2020. “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $750,000 investments made in between August 2017 – May 2018.” The customer sought $1 million in damages and the case was settled for $152,000.
  • June 2020. “Claim alleges breach of fiduciary duty, negligence, breach of contract and failure to supervise related to a $100,000 investment in GPB Auto in April 2017.” The customer sought $73,000 in damages and the case was settled for $18,601.06. The case was regarding direct investments and took place while Joseph Michaletz was registered with Concorde Investment Services, LLC.
  • June 2020. “Claim alleges breach of fiduciary duty, negligence and breach of contract related to a $100,000 investment made in August of 2016.” The customer sought $100,000 in damages and the case was settled for $24,139.81. The case was regarding direct investments and the complaint took place while Joseph Michaletz was registered with Concorde Investment Services, LLC.
  • May 2020. “Claim alleges breach of fiduciary duty, negligence and breach of contract relating to investments made in July and October of 2017.” The case was settled for $13,315.13. The case was regarding direct investments and the complaint took place while Joseph Michaletz was registered with Concorde Investment Services, LLC.
  • January 2020. “Claimants allege negligence and unsuitability in investment recommendations made through Triad and 2014 and thereafter at respondent Concorde in 2018.” The case was settled for $43,403.90. The case was regarding direct investments and the complaint took place while Joseph Michaletz was registered with Concorde Investment Services, LLC.
  • January 2020. “Claim alleges breach of fiduciary duty, negligence, and breach of contract, in connection with various GPB Investments made in 2016-2018.” The customer sought $550,000 in damages and the case was settled for $144,314.05. The complaint was regarding direct investments and took place while Joseph Michaletz was registered with Concorde Investment Services, LLC.
  • December 2019. “Claimants allege that investments in GPB products were unsuitable. In 2015, Claimants invested $250,000 in GPB Holdings I during Representative’s association with respondent Triad. Per the Statement of Claim, Claimants invested $650,000 in other GPB products during Representative’s association with co-respondent, Concorde Investment Services LLC.” The case was settled for $183,964.53.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, DAI Wealth, LLC may be liable for investment or other losses suffered by Joseph Michaletz’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form below for a free consultation.

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