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Michael Maniscalco Allegedly Failed to Follow Investor Instructions

Michael Maniscalco (CRD #: 2994430), a broker registered with Charles Schwab & Co., is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 12, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On July 9, 2024, investors alleged that in early 2022 they hired Michael Maniscalco to manage their accounts and stated that they wanted “growth.” However, the investors alleged he allowed a substantial amount of cash to remain uninvested or in cash equivalent investments rather than purchasing equities. As a result, investors missed an opportunity to capitalize on the rising equity market.

Background Information 

Michael Maniscalco has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 26 states and is a registered investment adviser in Pennsylvania and Texas. 

Michael Maniscalco has registered with the following firms: 

  • Charles Schwab & Co. (CRD #: 5393) 
  • TIAA-CREF Individual & Institutional Services (CRD #: 20472) 
  • SEI Investments Distribution Co. (CRD #: 10690) 
  • Vanguard Marketing Corporation (CRD #: 7452) 

Kurta Law Can Help 

If you worked with Michael Maniscalco and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.

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