March 2025 | Tiburon, CA
If you believe you’ve been affected by misleading investment recommendations from Marc Michael Miller, don’t wait to take action. Call 800-950-6553 or complete our online form form today to schedule your no-obligation case evaluation with our team of experienced securities fraud attorneys.
Key Details About Marc Michael Miller
- Full Name: Marc Michael Miller
- CRD Number: 1133692
- Current Status: Currently registered with Wedbush Securities Inc. since August 2021
- Current Office Locations: Tiburon, CA and Los Angeles, CA
- Registration History: Extensive history dating back to 1983, most recently with Western International Securities (2013-2021)
- Professional Qualifications: Passed 2 principal/supervisory exams, 3 general industry/product exams, and 2 state securities law exams
- Disclosure Events: 3 customer disputes (2 settled, 1 pending)
- Other Business Activities: CEO & CFO of Marin Executive Suites Inc. and Squadron Finance Officer for Civil Air Patrol
- State Licenses: Licensed in 6 U.S. states and territories, including California, Colorado, Hawaii, Massachusetts, Minnesota, and Washington
- FINRA BrokerCheck: Multiple customer disputes related to unsuitable investment recommendations dating back to 1997
- Current Pending Claim: $50,000 arbitration case alleging unsuitable and misleading investment recommendation filed in February 2025
Detailed Case Overview: The Allegations Against Marc Michael Miller
Marc Michael Miller, currently registered with Wedbush Securities Inc. in Tiburon, California, has a career in the securities industry spanning over four decades. According to his FINRA BrokerCheck report, Miller has been the subject of multiple customer complaints throughout his career, with the most recent allegation filed in February 2025.
The current pending complaint, filed as a FINRA arbitration (Case #25-00389), alleges that Miller recommended an unsuitable corporate debt investment and provided misleading information to the client. The customer is seeking $50,000 in damages. This case was received on March 3, 2025, and is currently pending resolution.
This recent complaint follows a pattern of similar allegations throughout Miller’s career. Two previous customer disputes, both settled in 1998, involved claims of unsuitable investment recommendations, misrepresentations, breach of contract, negligence, and breach of fiduciary duty. These cases were filed during Miller’s time with First Associated Securities Group, Inc. in the mid-1990s.
The first settled complaint (NASD Case #96-04584) alleged breach of contract, negligence, and breach of fiduciary duty related to a private placement investment. The client sought $100,000 in damages, and the case was settled in February 1998. According to Miller’s statement, he paid less than $5,000 toward the settlement while denying the allegations.
The second settled complaint (NASD Case #96-04582) involved allegations of unsuitability, misrepresentation, negligence, and breach of contract, with the client seeking $25,000 in damages. This case was resolved through mediation in April 1998, with Miller contributing to the settlement while maintaining he treated his customer fairly.
The recurrence of similar allegations across multiple decades raises concerns about Miller’s investment recommendation practices and adherence to securities regulations designed to protect investors.
Historical and Background Information
Marc Michael Miller has had a lengthy career in the securities industry, beginning in 1983. His FINRA BrokerCheck report indicates he has been registered with numerous firms throughout his career:
- Wedbush Securities Inc. (August 2021 – Present)
- Western International Securities (November 2013 – December 2021)
- GBS Advisors/GBS Financial Corp. (Various periods between 1998 – 2014)
- The Heritage Group, Inc. (February 1994 – June 1998)
- First Associated Securities Group, Inc. (March 1991 – May 1994)
- Berman and Stickel Incorporated (October 1990 – April 1991)
- Bear, Stearns & Co. Inc. (June 1989 – July 1990)
- Wulff, Hansen & Co. (March 1984 – June 1989)
- Several other firms in the early 1980s
Miller’s professional qualifications include passing the Municipal Securities Principal Examination (Series 53) in 1994 and the General Securities Principal Examination (Series 24) in 1992. He has also passed the Government Securities Representative Examination (Series 72) in 2023, the Securities Industry Essentials Examination (SIE) in 2018, and the General Securities Representative Examination (Series 7) in 1983. Additionally, he holds the Uniform Investment Adviser Law Examination (Series 65) from 1999 and the Uniform Securities Agent State Law Examination (Series 63) from 1989.
Beyond his securities activities, Miller has disclosed involvement in two other business activities:
- Marin Executive Suites Inc. – Miller serves as CEO and CFO of this non-investment-related private property management company in Sausalito, CA, a position he has held since March 1999.
- Civil Air Patrol – U.S. Air Force Auxiliary – Miller acts as a Squadron Finance Officer for this nonprofit organization that carries out emergency services and disaster relief missions worldwide, spending approximately 2 hours per month on bookkeeping duties.
Miller is currently registered with 23 Self-Regulatory Organizations (SROs) and is licensed in 6 U.S. states and territories, demonstrating the extensive scope of his securities business operations.
Red Flags & Warning Signs of Broker Misconduct
The information disclosed in Marc Michael Miller’s FINRA BrokerCheck report reveals several potential red flags that investors should be aware of:
1. Pattern of Similar Allegations
The multiple customer disputes throughout Miller’s career show a concerning pattern of similar allegations centered around unsuitable investment recommendations and misrepresentations. When such patterns emerge across different time periods and firms, it may suggest persistent issues with a broker’s practices rather than isolated incidents.
2. Corporate Debt Investment Complaints
The most recent pending arbitration specifically mentions corporate debt investments as the product type in question. Corporate debt can be complex and carry various risks including credit risk, interest rate risk, and liquidity risk that must be properly explained to investors and matched with their risk tolerance and investment objectives.
3. Misrepresentation Allegations
Multiple complaints against Miller allege misrepresentations or misleading information provided in connection with investment recommendations. This raises concerns about whether clients received full and accurate disclosure of material information needed to make informed investment decisions.
4. Breach of Fiduciary Duty Claims
The allegations of breach of fiduciary duty are particularly concerning. Investment professionals who act as fiduciaries are legally obligated to put their clients’ interests ahead of their own and to make recommendations that are in the clients’ best interests.
5. Lengthy Career with Multiple Firms
While not inherently a red flag, Miller’s extensive history with multiple firms over his four-decade career warrants scrutiny. Frequent moves between firms can sometimes indicate issues that may not be fully captured in regulatory disclosures.
Legal & Regulatory Framework
The allegations against Marc Michael Miller implicate several key securities laws and regulations:
FINRA Rule 2111: Suitability
This fundamental rule requires that brokers have a reasonable basis to believe that their investment recommendations are suitable for the client based on the client’s investment profile, including age, financial situation, tax status, investment objectives, experience, time horizon, liquidity needs, and risk tolerance. The multiple allegations of unsuitable recommendations directly implicate this rule.
FINRA Rule 2020: Use of Manipulative, Deceptive or Other Fraudulent Devices
This rule prohibits brokers from using manipulative, deceptive, or fraudulent devices or contrivances in connection with the purchase or sale of securities. Allegations of misrepresentation and misleading statements would potentially violate this rule.
FINRA Rule 2010: Standards of Commercial Honor and Principles of Trade
This broad ethical standard requires all registered representatives to observe high standards of commercial honor and just and equitable principles of trade. All forms of unethical conduct, including unsuitable recommendations and misrepresentations, could constitute violations of this rule.
Securities Exchange Act of 1934, Section 10(b) and Rule 10b-5
These federal provisions prohibit the use of any manipulative or deceptive device in connection with the purchase or sale of securities. Misrepresentations of material facts or omissions of material information necessary to make statements not misleading would potentially violate these federal securities laws.
Investment Advisers Act of 1940
For activities related to investment advice, this Act imposes fiduciary duties on investment advisers, requiring them to act in the best interests of their clients and to provide full and fair disclosure of all material facts, including potential conflicts of interest.
Guidance for Affected Investors
If you invested with Marc Michael Miller, particularly if you purchased corporate debt investments or other securities based on his recommendations, here are essential steps to consider:
1. Review Your Investment Portfolio
Carefully examine your account statements, trade confirmations, and other investment records to identify:
- All investments recommended by Miller
- The performance of these investments relative to market benchmarks
- Any discrepancies between what was promised and what actually occurred
- Concentration levels in particular types of investments
- The suitability of the investments in relation to your stated investment objectives and risk tolerance
2. Gather and Preserve Documentation
Collect and organize all materials related to your investments, including:
- Account opening documents and investment objective questionnaires
- Communications with Miller (emails, letters, text messages, notes from phone calls)
- Marketing materials or prospectuses for recommended investments
- Account statements and trade confirmations
- Any disclosures or risk acknowledgments you signed
- Notes from meetings or conversations about your investments
3. Assess Potential Claims
Based on the FINRA BrokerCheck report, potential claims against Miller might include:
- Unsuitability: Recommendations that did not align with your investment objectives or risk tolerance
- Misrepresentation: False statements or misleading information about investments
- Omission: Failure to disclose material risks or conflicts of interest
- Breach of fiduciary duty: Failure to act in your best interests
- Negligence: Failure to exercise reasonable care in providing investment advice
4. Be Aware of Time Limitations
Securities claims are subject to strict time limitations, including:
- FINRA arbitration claims generally must be filed within six years of the event giving rise to the dispute
- State securities laws may have different statutes of limitations
- Delayed action could result in the loss of your right to pursue recovery
5. Consider Professional Consultation
Given the complexity of securities laws and the technical nature of investment products, consulting with an attorney who specializes in securities litigation can help you:
- Assess the strength of your potential claims
- Understand the applicable time limitations
- Navigate the FINRA arbitration process
- Determine the appropriate strategy for seeking recovery
How Our Securities Fraud Attorneys Can Help
Our experienced investment fraud attorneys specialize in representing investors who have suffered losses due to broker misconduct. We offer:
Comprehensive Case Evaluation
We will thoroughly review your investment portfolio, account statements, and communications with Miller to identify potential violations of securities laws and regulations, and to calculate the full extent of your recoverable damages.
FINRA Arbitration Expertise
With extensive experience representing investors in FINRA arbitration proceedings, we understand the nuances of this specialized forum and how to effectively present your case to maximize the likelihood of a favorable outcome.
Deep Knowledge of Complex Investments
Our attorneys possess specialized knowledge of various investment products, including corporate debt securities and other complex investments that may have been recommended to you by Miller.
Contingency Fee Representation
We handle securities fraud cases on a contingency fee basis, which means you pay no legal fees unless we recover money for you. This aligns our interests with yours and makes quality legal representation accessible regardless of your current financial situation.
Strategic Negotiation and Advocacy
When appropriate, we can negotiate directly with the brokerage firm to seek a favorable settlement of your claims. If a fair settlement cannot be reached, we are fully prepared to advocate vigorously for your interests in FINRA arbitration proceedings.
If you believe Marc Michael Miller recommended unsuitable investments or provided misleading information that resulted in financial losses, don’t hesitate to reach out for professional guidance. Call 800-950-6553 today to speak with one of our experienced securities fraud attorneys and learn about your options for potential recovery.
