Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into Highland Village, TX financial advisor Clovis M. Morrison and his current employer, Centaurus Financial, Inc. If you’ve invested with Mr. Morrison or have concerns about your account, understanding his regulatory history and potential red flags could be crucial for protecting your financial interests.
Who is Clovis M. Morrison?
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Clovis Mike Morrison has been in the financial services industry for over 37 years, currently operating out of Highland Village, Texas. He’s been registered with Centaurus Financial, Inc. since January 30, 2012, where he serves clients as a registered representative and investment advisor. His extensive career includes previous employment at PFS Investments Inc. from 1987 to 1996, and he maintains other business affiliations including a board position at EQIS Capital Management.
While longevity in the industry can indicate experience, it’s essential for investors to look beyond tenure and examine the complete regulatory record of their financial advisor.
Understanding the Red Flags in Morrison’s Record
According to FINRA BrokerCheck, Morrison’s regulatory history reveals two significant disclosures that investors should carefully consider:
| Disclosure Type | Date Filed | Status | Amount |
|---|---|---|---|
| Customer Dispute | 09/03/2019 | Settled | $125,000 |
| Customer Dispute | 12/10/2012 | Settled | $30,000 |
Breaking Down the Customer Complaints
Let’s examine each complaint in detail to understand why these matters are concerning for current and prospective investors:
2019 Customer Dispute – $125,000 Settlement
The most recent and substantial complaint was filed on September 3, 2019, involving alleged damages of $225,000. While the case was ultimately settled for $125,000 on October 21, 2019, the nature of this complaint raises several important questions:
- The significant settlement amount suggests serious allegations were made
- The relatively quick resolution (less than two months) indicates the parties may have wanted to avoid prolonged litigation
- A settlement of this magnitude often occurs when there’s substantial evidence supporting the investor’s claims
2012 Customer Dispute – $30,000 Settlement
Filed on December 10, 2012, this earlier complaint alleged damages of $97,825.10. The case was settled for $30,000 on May 15, 2013. Key concerns include:
- This complaint occurred shortly after Morrison joined Centaurus Financial
- The settlement represented approximately 31% of the alleged damages
- Multiple settlements suggest a pattern that investors should carefully evaluate
Why These Disclosures Matter to Your Investments
When evaluating a financial advisor, customer complaints and settlements are critical indicators that shouldn’t be overlooked. Here’s why Morrison’s record deserves your attention:
1. Pattern of Settlements: Two settled disputes totaling $155,000 indicate recurring issues with client relationships or investment recommendations.
2. Recent Activity: The 2019 complaint shows this isn’t just historical information—issues have occurred within the last few years.
3. Substantial Amounts: These aren’t minor administrative matters. The settlement amounts suggest significant financial harm may have occurred.
4. Settlement vs. Denial: When firms and advisors choose to settle rather than fight allegations, it often indicates they want to avoid the discovery process or potential larger judgments.
What Current and Former Clients Should Consider
If you’ve worked with Clovis Morrison or are considering doing so, here are important steps to protect your interests:
Review Your Account Statements
- Look for unauthorized transactions or excessive trading
- Check if your investment returns match expectations set during initial consultations
- Verify that your portfolio aligns with your stated risk tolerance
Document Everything
- Keep all correspondence with your advisor
- Save account statements and trade confirmations
- Note any verbal promises or guarantees made
Understand Your Rights
Securities laws provide important protections for investors. If you’ve suffered losses due to misconduct, you may have legal recourse through FINRA arbitration, even if you’re no longer a client.
The Importance of Due Diligence
While past complaints don’t automatically mean future problems, they’re important data points in your decision-making process. Consider these factors:
- Has your advisor been transparent about their regulatory history?
- Are you comfortable with the level of risk in your portfolio?
- Do you fully understand the fees and commissions you’re paying?
- Have your investment objectives been properly documented?
How Haselkorn & Thibaut Can Help
With over 50 years of experience and a 98% success rate, Haselkorn & Thibaut has recovered millions for investors nationwide. Our team understands the complexities of securities law and can evaluate whether you have a viable claim.
We work on a “No Recovery, No Fee” basis, meaning you don’t pay unless we successfully recover funds for you. Our attorneys can review your situation, explain your options, and help you understand the strength of any potential claims.
Take Action to Protect Your Financial Future
If you’ve invested with Clovis Morrison or Centaurus Financial and have concerns about your account, don’t wait to seek professional guidance. The securities industry has strict time limits for filing claims, and delaying could impact your ability to recover losses.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation. Our experienced attorneys can review your situation and help you understand your legal options. Remember, there’s no cost for the consultation, and you won’t pay any fees unless we recover money for you.
Your financial security is too important to leave to chance. Call 1-888-885-7162 now to speak with an experienced investment fraud attorney who can help protect your interests.
