Michael Lucas Resigns from Elevated Capital Advisors

Michael Lucas (CRD #: 5695141), a broker formerly registered with Mutual of Omaha Investor Services, resigned from an investment advisory firm, according to his BrokerCheck record, accessed on January 4, 2025. If you want to know more about his alleged conduct as a broker, read on.

Resignation from Elevated Capital Advisors

On December 18, 2024, Michael Lucas was permitted to resign from investment advisory firm Elevated Capital Advisors after allegedly submitting documents with initials that did not match previous initials signed by the same clients.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Forgery and other misconduct violates this rule.

Investor Dispute

On October 24, 2018, an investor filed a dispute alleging that Michael Lucas intentionally misled him into signing documents for an annuity funded with proceeds from a 401(k), when the client intended his funds to be deposited in a liquid money market account.

This dispute was settled for $748,303.32.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of information, such as an investment’s risks, fees, or features.

Background Information

Michael Lucas has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

He has also worked for the following firms:

• Mutual of Omaha Investor Services (CRD#:611)
• MML Investors Services (CRD#:10409)
• NYLIFE Securities (CRD#:5167)

Kurta Law Can Help

If you worked with Michael Lucas and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.