In a recent development, a serious allegation has been brought against Michael Moore, a representative of Horter Investment Management, LLC, and previously associated with Stalwart Capital, LLC (CRD 149882) from December 8, 2010, to November 3, 2014. The clients allege that Moore misrepresented the features of an investment product, specifically claiming that the principal they invested would remain untouched, even after client withdrawals. This dispute, filed on August 14, 2023, involves a fixed annuity and an alleged damages amount of $5,000.00.
The seriousness of this allegation cannot be overstated, as it directly impacts the trust and confidence that investors place in their financial advisors. Misrepresentation of investment products is a grave violation of the fiduciary duty that advisors owe to their clients. If proven true, such actions can lead to significant financial losses for investors and erode the integrity of the investment industry as a whole, as highlighted in a recent Forbes article on the importance of transparency in financial advice.
Haselkorn & Thibaut, a national investment fraud law firm, is currently investigating Michael Moore and Horter Investment Management, LLC in connection with this allegation. As a firm with over 50 years of experience and a 98% success rate, Haselkorn & Thibaut is well-equipped to handle such cases and invites affected clients to schedule a free consultation by calling their toll-free number, 1-888-885-7162 .
Understanding the Allegation and FINRA Rule 2010
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The allegation against Michael Moore revolves around the misrepresentation of a fixed annuity product. In simple terms, the clients claim that Moore assured them that their invested principal would remain untouched, even if they made withdrawals from the account. This alleged misrepresentation is a direct violation of FINRA Rule 2010, which requires registered representatives to observe high standards of commercial honor and just and equitable principles of trade.
FINRA Rule 2010 is a cornerstone of the investment industry, as it establishes the ethical and professional standards that financial advisors must adhere to. By allegedly misrepresenting the features of the fixed annuity product, Michael Moore may have breached this fundamental rule, potentially misleading clients and causing them financial harm.
The Importance for Investors
This case underscores the critical importance of transparency and accuracy in the representation of investment products. Investors rely on the information provided by their financial advisors to make informed decisions about their financial future. When advisors misrepresent product features, they not only breach the trust placed in them but also jeopardize the financial well-being of their clients.
Investors must remain vigilant and thoroughly understand the products they invest in. If an advisor’s claims seem too good to be true or contradict the official product documentation, it may be a red flag for potential misrepresentation. Investors should always review the prospectus and other official documents before making investment decisions and seek clarification from multiple sources if necessary.
Red Flags and Recovering Losses
The allegation against Michael Moore highlights several red flags that investors should be aware of when working with financial advisors:
- Misrepresentation of product features, particularly regarding the safety of invested principal
- Contradictions between an advisor’s claims and official product documentation
- Pressure to invest in products that do not align with the investor’s risk tolerance or financial goals
If an investor suspects that they have been the victim of financial advisor malpractice, they should act promptly to protect their rights and recover any losses. Haselkorn & Thibaut offers free consultations to help investors assess their case and explore their legal options. With offices in Florida, New York, North Carolina, Arizona, and Texas, the firm is well-positioned to assist investors nationwide.
One powerful tool for recovering losses is FINRA Arbitration. This process allows investors to seek compensation for losses caused by financial advisor misconduct or negligence. Haselkorn & Thibaut’s experienced attorneys can guide investors through the arbitration process, leveraging their expertise to pursue a successful outcome.
Investors who believe they may have been affected by the alleged misconduct of Michael Moore or any other financial advisor should not hesitate to seek legal guidance. With Haselkorn & Thibaut’s “No Recovery, No Fee” policy, investors can pursue their claims without upfront costs, ensuring that they have access to the legal representation they need to protect their financial future. To schedule a free consultation, investors can call Haselkorn & Thibaut’s toll-free number at 1-888-885-7162 .
Note: The information provided in this article is based on the publicly available FINRA BrokerCheck report for Michael Moore (CRD #2275937). The allegations mentioned are currently pending and have not been proven in a court of law. Michael Moore denies the allegations and intends to vigorously defend himself.
