Advisor Alert: Our Attorneys Are Investigating Brian Megibow For Alleged Trading Misconduct

Last Updated: February 2025 (Fort Myers, FL)

National securities fraud lawyers at Patil Law P.C. are investigating former Ameriprise Financial Services LLC broker Brian M. Megibow (CRD #3083501) regarding allegations of questionable trading practices and potential policy violations. The investigation stems from his recent resignation while under internal review and his history of customer disputes.

Critical Insights About Fort Myers Financial Advisor Brian Megibow

• Advisor Name: Brian M. Megibow
• CRD: 3083501
• Current Status: Not Currently Registered
• Last Employer: Ameriprise Financial Services, LLC (05/2017 – 01/2025)
• Location: Fort Myers, FL
• Can Brian Megibow be sued in FINRA arbitration: Yes
• Customer Disputes: 3 Total (1 Settled, 2 Denied)
• Professional Qualifications: Series 7, 24, 31, and 66 licenses
• Years of Experience: Since 1999
• Previous Employers: SunTrust Investment Services, AmSouth Investment Services, Dean Witter Reynolds

Details of Current Investigation

Recent events raise serious concerns:

• Voluntary resignation in December 2024 while under firm review of trading strategy and client contact
• Prior $25,000 settlement regarding unsuitable variable annuity recommendations
• History of customer complaints regarding trading practices
• Previous termination related to trading conduct and policy violations

Analysis of Alleged Misconduct

The pattern of disclosures raises concerns about:

• Trading strategy implementation
• Client communication practices
• Compliance with firm policies
• Supervision of trading activities
• Protection of client interests
• Risk management procedures

Regulatory Framework and Investor Protection

Under FINRA regulations, brokers must:

• Maintain appropriate client contact
• Implement suitable trading strategies
• Follow firm policies and procedures
• Document trading activities properly
• Protect client interests
• Maintain accurate records

Red Flags for Investors

1. Recent resignation during internal review
2. History of customer disputes
3. Previous termination for policy violations
4. Variable annuity complaints
5. Trading strategy concerns
6. Multiple employer changes
7. Client communication issues
8. Regulatory disclosures

Implications for Current and Former Clients

Current and former clients should:

• Review all account statements
• Examine trading activity
• Verify communication records
• Check investment suitability
• Document any concerns
• Assess portfolio performance
• Review risk tolerance alignment
• Consider independent review

Patil Law P.C. Will Help You Recover Your Investment Losses

If you have concerns about your accounts handled by Mr. Megibow, contact Attorney Patil online or call (800) 950-6553 for a free consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.

Chetan Patil

Chetan Patil is the founder and Managing Partner of the Patil Law. He brings over 15 years of extensive experience in diverse complex disputes and transactions, across the country. Mr. Patil specializes in litigations, trials, arbitrations, and appeals of complex securities, FINRA, financial and business disputes, with an emphasis in securities, financial services, and financial regulatory law.