Haselkorn & Thibaut, P.A., a national investment fraud law firm, has launched an independent investigation into financial advisor Michael Glen Nielson (CRD #4546896) of IFP Securities, LLC and Independent Financial Partners. The investigation centers on allegations of unsuitable investment recommendations, misrepresentation, and supervisory failures linked to complex alternative investments sold to retail clients.
Who Is Financial Advisor Michael Nielson?
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Michael Nielson is a financial advisor and investment professional who has worked in the securities industry since 2002. He is currently registered as a broker with IFP Securities, LLC, a FINRA-member broker-dealer headquartered in Tampa, Florida, and as an investment adviser representative with Independent Financial Partners, an SEC-registered investment advisory firm.
According to his public record, Nielson operates through branch offices in Colorado and Utah, where he provides financial planning, retirement investment advice, and portfolio management services to individual investors and small business owners.
Throughout his career, Nielson has also been affiliated with several large financial institutions, including LPL Financial LLC and Cetera Advisors LLC. His experience spans over two decades of advising clients on mutual funds, annuities, exchange-traded funds (ETFs), and alternative investment products.
Michael Nielson’s Customer Dispute History
As of the latest records, Michael Nielson has one customer dispute disclosure, involving allegations of unsuitable investment recommendations.
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2023 Customer Arbitration:
In 2023, a customer filed a FINRA arbitration claim against Nielson alleging that he recommended a high-risk, illiquid alternative investment that was not suitable given the client’s objectives and risk profile. The investor claimed damages of approximately $150,000.That matter was settled in 2025 for $89,500, with no individual contribution listed for Nielson. The settlement resolved all claims, and the case is now closed.
Aside from this case, there are no additional pending customer complaints, disciplinary actions, or regulatory sanctions disclosed in his record.
Focus of the Investigation
The law firm’s ongoing review of Michael Nielson and IFP Securities aims to determine whether appropriate due diligence and risk disclosures were provided when clients were advised to invest in alternative products such as private placements, structured notes, non-traded REITs, or limited partnerships.
Many of these high-commission investment products were sold to retirees and conservative investors who sought income and capital preservation. Unfortunately, when such products underperform or collapse—like the GWG Holdings L-Bonds and similar offerings—investors can face devastating losses.
The investigation also examines whether IFP Securities, LLC and its supervisory staff adequately monitored recommendations made by registered representatives like Nielson and whether compliance procedures were properly followed.
About IFP Securities and Independent Financial Partners
IFP Securities, LLC and Independent Financial Partners (IFP) operate out of Tampa, Florida. Together, they represent a network of independent financial professionals across the United States who provide brokerage and advisory services to retail clients.
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IFP Securities serves as the broker-dealer responsible for supervising securities transactions and maintaining compliance with FINRA rules.
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Independent Financial Partners acts as the registered investment adviser, providing fee-based portfolio management and advisory services.
While both entities remain active and in good standing with regulators, investors should be aware that independent advisory models rely heavily on each advisor’s individual conduct and supervisory oversight by the firm.
Investor Concerns About Alternative Investments
Alternative investments—such as private placements, REITs, oil and gas programs, and promissory notes—are often marketed as higher-yield opportunities with “diversification benefits.” However, they also carry elevated risks, including illiquidity, high fees, and potential for total loss of capital.
When brokers or advisors like Michael Nielson recommend these products to retirees, conservative investors, or those needing liquidity, the recommendations may violate FINRA’s Rule 2111 (Suitability) and Regulation Best Interest (Reg BI) standards.
If a broker fails to properly assess a client’s financial situation, disclose material risks, or supervise such transactions, both the advisor and the firm can be held accountable for investor losses through FINRA arbitration.
Common Red Flags in Investor Complaints
Based on prior arbitration cases handled by Haselkorn & Thibaut, P.A., investors often raise similar red flags in situations like the one involving Michael Nielson and IFP Securities:
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Lack of full disclosure about investment risk or liquidity restrictions
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Overconcentration of assets in alternative investments
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Misrepresentation of returns, safety, or product guarantees
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Inadequate supervision by the broker-dealer
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Unsuitable recommendations made to elderly or conservative investors
If you recognize any of these issues in your account, it may be appropriate to have your investments reviewed by a securities attorney.
What Investors Can Do
Investors who purchased alternative or illiquid investments through Michael Nielson, IFP Securities, or Independent Financial Partners may have grounds to seek recovery of losses through FINRA arbitration or other legal channels.
FINRA arbitration is a specialized forum designed to resolve disputes between investors and financial firms. Unlike court litigation, arbitration is typically faster and less costly. Investors can recover damages for unsuitable recommendations, lack of supervision, or misrepresentation—even when the advisor remains active in the industry.
About Haselkorn & Thibaut, P.A.
Haselkorn & Thibaut, P.A. is a national law firm representing investors in claims involving broker misconduct, investment fraud, and securities arbitration. With offices in Florida, Texas, Arizona, and New York, the firm has a 98% success rate and has recovered over $100 million for investors nationwide.
The attorneys at Haselkorn & Thibaut bring over 50 years of combined experience representing both investors and financial institutions, giving them deep insight into how broker-dealers and advisory firms handle compliance, supervision, and dispute resolution.
The firm’s investigations cover cases involving:
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Unsuitable recommendations
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Failure to supervise
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Misrepresentation and omission of material facts
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Excessive trading or churning
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Alternative investment losses, including REITs, private placements, and promissory notes
Investors who worked with Michael Nielson of IFP Securities or Independent Financial Partners are encouraged to request a free, confidential consultation to determine their potential recovery options.
For more information, contact:
Haselkorn & Thibaut, P.A. – 1-888-885-7162
