Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into Highland Village, Texas financial advisor Mike Morrison (CRD# 1730240) following recent investor complaints alleging unsuitable investment recommendations and misrepresentation. Morrison, who operates through Centaurus Financial under the business name Morrison Financial, has been the subject of multiple investor disputes that warrant careful examination by current and prospective clients.
Recent Investor Complaints Against Mike Morrison
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Financial Industry Regulatory Authority (FINRA) records reveal two significant investor complaints filed against Morrison in recent years. The most concerning allegation emerged in July 2025, when an investor claimed Morrison recommended unsuitable, high-risk illiquid investments in real estate securities while serving as a Centaurus Financial representative. This pending complaint seeks damages of $100,000, a substantial sum that reflects the severity of the alleged misconduct.
Morrison has responded to these allegations with a formal denial, maintaining that the investments were suitable based on his clients’ objectives, goals, and financial circumstances. He states that customers received and reviewed all material documentation and confirmed in writing their understanding of the investment characteristics and risks. While every advisor has the right to defend themselves against complaints, investors should carefully consider the pattern of allegations when evaluating their financial relationships.
Pattern of Client Disputes
Beyond the current pending complaint, Morrison’s regulatory history includes an earlier dispute from 2023. This complaint alleged that Morrison breached his fiduciary duty by failing to properly tender a pension rollover check, resulting in unexpected tax liabilities for the client. This matter resulted in a settlement of $14,999, suggesting the complaint had sufficient merit to warrant financial resolution rather than dismissal.
| Complaint Year | Allegation Type | Amount | Status |
|---|---|---|---|
| 2025 | Unsuitable investments, misrepresentation | $100,000 | Pending |
| 2023 | Breach of fiduciary duty | $14,999 | Settled |
Red Flags for Investors to Consider
When evaluating your relationship with any financial advisor, including Morrison, consider these important warning signs:
- Multiple investor complaints within a short timeframe may indicate systemic issues with investment recommendations or client service
- Allegations involving unsuitable investments, particularly in complex or illiquid products like real estate securities
- Claims of misrepresentation suggest potential communication issues about investment risks and characteristics
- Settled complaints indicate disputes with enough merit to warrant financial resolution
- Administrative errors resulting in tax consequences demonstrate potential operational deficiencies
Understanding Your Rights as an Investor
If you’ve experienced losses or concerns similar to those described in the complaints against Morrison, you have important rights under securities laws. Financial advisors have a fiduciary duty to act in their clients’ best interests, which includes recommending suitable investments based on your financial situation, risk tolerance, and investment objectives.
Unsuitable investment recommendations can be particularly damaging when they involve:
- Illiquid investments that cannot be easily sold when you need access to your funds
- High-risk products that don’t align with your risk tolerance
- Complex securities without proper explanation of risks and characteristics
- Concentrated positions that lack appropriate diversification
Mike Morrison’s Professional Background
Morrison brings 37 years of securities industry experience to his practice at Centaurus Financial. He has maintained his registration with the firm since 1996 as a broker and since 2012 as an investment advisor. His extensive credentials include passing six securities industry qualifying examinations and holding 35 state licenses, demonstrating comprehensive knowledge of securities regulations and investment products.
Despite these qualifications, the recent complaints raise questions about whether Morrison’s investment recommendations consistently align with his clients’ best interests. Even experienced advisors can face challenges in properly assessing client suitability or managing complex investment products.
What Should Concerned Investors Do?
If you have investments with Mike Morrison or Morrison Financial through Centaurus Financial, consider taking these steps:
- Review your account statements carefully for any investments you don’t understand or that seem inconsistent with your goals
- Document all communications with your advisor about investment recommendations and concerns
- Evaluate whether your investments align with your stated risk tolerance and financial objectives
- Calculate any losses you may have experienced, particularly in illiquid or high-risk investments
- Seek professional guidance about your legal options if you’ve suffered investment losses
Why Legal Consultation Matters
Investment losses can devastate retirement plans, educational savings, and financial security. When those losses result from unsuitable recommendations or misrepresentation by a financial advisor, you may have legal recourse to recover your damages. Securities laws provide important protections for investors, but navigating these complex regulations requires experienced legal guidance.
Haselkorn & Thibaut brings over 50 years of experience representing investors nationwide, with a 98% success rate and millions recovered for clients. The firm operates on a “no recovery, no fee” basis, meaning you pay nothing unless they successfully recover compensation for your losses.
Take Action to Protect Your Financial Future
Don’t wait to address concerns about your investments or potential losses. The securities industry imposes strict time limits on filing claims, and delays can impact your ability to recover damages. If you’ve invested with Mike Morrison through Centaurus Financial and experienced losses or have concerns about unsuitable investment recommendations, professional legal evaluation can help you understand your options.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation about your investment losses. Their experienced team can review your situation, explain your legal rights, and help you determine the best path forward to protect your financial interests. Visit investmentfraudlawyers.com to learn more about how they can assist you in recovering investment losses.
