There are options for clients of Cambridge Investment Research Advisors, Inc. broker Michael Petyak (CRD# 2976602), who suffered investment losses. He has been registered with Calton & Associates, Inc. in Ridgeland, Missouri, since 2017. Previously, he was registered with Cambridge Investment Research Advisors, Inc. in Ridgeland, Missouri, from 2014 to 2017.
Michael Petyak Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
April 2022. “Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.” The customer sought $675,000 in damages. The complaint was regarding direct investments, and it took place while he was registered with Cambridge Investment Research Advisors, Inc.
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, Cambridge Investment Research Advisors, Inc. may be liable for investment or other losses suffered by Michael Petyak’s customers.
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 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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