Michael Spolar, formerly of International Assets Advisory, Suspended Again from Securities Industry

Have you lost money with financial advisor Michael Spolar of Beachwood, Ohio?  The law firm of Israels & Neuman is continuing to look into allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael Patrick Spolar. FINRA previously suspended Spolar from the securities industry for one month regarding allegations that he reimbursed a customer for investment losses without notifying his former brokerage firm, International Assets Advisory.

In July 2019, FINRA again suspended Spolar, this time for 15 months, regarding allegations that he engaged in discretionary trading in a customer account with authorization to do so.  Spolar had also previously been suspended for similar conduct.

Michael Spolar was a financial advisor and registered representative of International Assets Advisory from April 2015 to November 2017.  He was also affiliated with LPL Financial from February 2013 to April 2015.  He worked at branch offices in Beachwood and Solon, Ohio.  Spolar has also been the subject of 13 customer complaints (many alleging unsuitable investments in stocks), and he also filed for bankruptcy in late 2015.  Spolar was also terminated by LPL Financial in April 2015 for allegations that he engaged in discretionary trading in violation of firm policy.

Brokerage firms like International Assets Advisory have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Ohio. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including International Assets Advisory and LPL Financial.

Click to view:  Spolar, MIchael FINRA AWC2

Click to view:  Spolar, Michael BrokerCheck 6.8.18

Click to view:  Spolar, Michael FINRA AWC

If you lost money with Michael Spolar, LPL Financial, or International Assets Advisory, please CONTACT US at 720-599-3505 for a free evaluation of your case.