Haselkorn & Thibaut, P.A., a national investment fraud law firm, has announced an independent investigation into investment advisor Simon Michel Joseph (CRD #5602157). The investigation focuses on allegations of unauthorized trading, failure to disclose regulatory actions, and unsuitable investment recommendations while Joseph was employed at multiple broker-dealer firms prior to joining United Advisor Group.
Who Is Simon Joseph?
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Simon Joseph, also known as Simon Michel Joseph, is currently registered as an Investment Adviser Representative (IAR) with United Advisor Group, an SEC-registered investment advisory firm headquartered in Virginia. According to public records, Joseph entered the securities industry in 2009 and has previously worked for several large firms, including Morgan Stanley and Truist Investment Services.
While Joseph is currently approved as an investment advisor, he is not an active FINRA-registered broker due to a six-month FINRA suspension that began in August 2025 and extends through February 2026. During that time, Joseph is considered statutorily disqualified from associating with any FINRA member firm.
FINRA and State Regulatory History
Public disclosures show that Simon Joseph has been the subject of multiple regulatory actions over the course of his career:
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FINRA AWC (2019) – FINRA found that Joseph exercised discretion in client accounts without written authorization and mismarked order tickets while associated with a prior brokerage firm. Sanctions included a 30-business-day suspension and a $10,000 fine.
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Maryland Consent Order (2019) – Following the FINRA action, the Maryland Division of Securities issued an order limiting Joseph’s activities within the state. The consent order required that he not exercise discretion or act in a supervisory capacity for Maryland clients and imposed conditions on his registration.
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FINRA AWC (2025) – In a later case, FINRA determined that Joseph willfully failed to amend his Form U4 to disclose the 2019 Maryland action. FINRA imposed a six-month suspension (August 18, 2025–February 17, 2026), a $5,000 fine, and statutory disqualification status.
These findings highlight repeated regulatory issues concerning account supervision, disclosures, and client authorization, all of which can pose significant risks to investors.
Customer Disputes and Complaints Involving Simon Joseph
According to public records, Simon Joseph has been named in two customer disputes, both of which were settled without any personal financial contribution reported:
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2023 FINRA Arbitration (Truist Investment Services) – A customer alleged unauthorized trading and related misconduct. The case was settled in April 2024 for $90,000, with no individual contribution attributed to Joseph.
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2016 Complaint (Morgan Stanley) – A client alleged unauthorized trading between 2015 and 2016, claiming losses resulting from discretionary trades. The matter was settled for $70,000, also without personal contribution by Joseph.
While settlements do not imply an admission of wrongdoing, the existence of multiple customer disputes raises concerns about trading practices, suitability reviews, and firm supervision.
Termination History
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Morgan Stanley (2016): Discharged for exercising discretion without written authorization and mismarking trades.
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Truist Investment Services (2022): Voluntarily resigned after questions regarding the use of a securities-backed line of credit (SBLOC) and the handling of outside business activity disclosures.
Current Role at United Advisor Group
As of 2024, Simon Joseph is listed as an investment advisor with United Advisor Group, which operates under SEC oversight as an independent advisory firm. United Advisor Group is not suspended by FINRA and remains an active RIA. Joseph’s current registration is as an investment adviser representative only—not as a broker-dealer representative.
Investors considering or currently working with Joseph at United Advisor Group should ensure that any account activity or investment recommendations are made in writing and consistent with their stated investment objectives, risk tolerance, and liquidity needs.
Understanding Unauthorized Trading and Discretion Violations
Unauthorized trading occurs when an advisor places trades in a client’s account without prior consent or proper discretionary authority. Even when an advisor believes a trade benefits the client, executing it without authorization violates FINRA and SEC rules. These actions often lead to excessive trading, margin exposure, and unnecessary commissions or fees.
The failure to disclose disciplinary events—as alleged in Joseph’s most recent FINRA action—can also mislead clients about an advisor’s disciplinary record and regulatory history, preventing investors from making fully informed decisions.
What Investors Can Do
Investors who worked with Simon Joseph at United Advisor Group, Truist Investment Services, Morgan Stanley, or any affiliated firms and believe they experienced unauthorized trading, misrepresentation, or unsuitable recommendations may be entitled to pursue claims for recovery through FINRA arbitration or related proceedings.
Haselkorn & Thibaut, P.A., which has a 98% success rate and has recovered over $100 million for investors nationwide, is currently investigating claims involving unauthorized trading and high-risk investment recommendations. The firm offers free, confidential consultations to determine whether investors may have valid claims.
To discuss your case, contact:
Haselkorn & Thibaut, P.A. – 1-888-885-7162
