Michael Frager: $125K Complaint Against FSA Integrated Advisor

Recent investor complaints against La Jolla, California financial advisor Michael Frager (CRD# 1230622) allege that he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is currently registered as a broker with Willow Cove Investment Group and an advisor with Balboa Wealth Partners, doing business as FSA Integrated.

Mr. Frager’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in January 2024, alleges that as a representative of Integrity Brokerage Services, he recommended an unsuitable investment in asset-backed debt. The pending complaint alleges damages of $125,000.

An earlier investor complaint, filed in 2001, alleged that as a representative of Banc of America Investment Services, he recommended unsuitable mutual fund investments. In 2002 the complaint reached a settlement of $5,943.50.

A second investor complaint, filed in 2001, alleged that he made an unsuitable recommendation to liquidate mutual funds and switch to a variable annuity product, incurring undisclosed sales charges. The complaint reached a settlement of $10,749.70.

A third investor complaint, filed in 2000, alleged unsuitable mutual fund recommendations and “inappropriate use of mutual funds share class.” The complaint reached a settlement of $200,000.

According to the Financial Industry Regulatory Authority, Michael Frager holds 38 years of securities industry experience. Based in La Jolla, California, he has been registered with Willow Cove Investment Group and Balboa Wealth Partners since 2020 and 2016, respectively, doing business as FSA Integrated. His past registrations include Integrity Brokerage Services, Centaurus Financial, Independent Financial Group, Seahorse Capital, Princor Financial Services, Granite Securities, Girard Securities, First Wall Street Corporation, Banc of America Investment Services, BA Investment Services, Prudential Securities, and Lehman Brothers. His credentials include the passage of nine securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Financial and Operations Principal Examination, or Series 27; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; the Municipal Securities Representative Examination, or Series 52TO; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Florida, Nevada, Oregon, and Texas. (Information current as of February 18, 2024.)

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