Michael Borgia: FINRA Investigates Pinnacle Advisor

Boca Raton, Florida financial advisor Michael Borgia (CRD# 4393648) has been investigated for alleged violations of securities industry rules. Financial Industry Regulatory Authority records show that he is registered as a broker with Pinnacle Investments, having previously been registered with Dawson James Securities.

Mr. Borgia’s BrokerCheck report discloses FINRA’s investigation into his conduct. Filed in April 2025, the disclosure states that FINRA made a preliminary determination to recommend disciplinary action against him. The action would allege that he willfully violated Securities and Exchange Commission and FINRA rules by “failing to act in the customers’ best interest in connection with the recommendation of non-traditional ETFs.” FINRA has not yet disclosed any formal action against him.

A second disclosure on his BrokerCheck report concerns his termination from First Midwest Securities. Filed in 2009, it states that the firm fired him after he pleaded guilty to falsely reporting an incident.

Pinnacle Investments’ website includes a page describing the firm’s history, philosophy, and mission. “For almost 30 years we have used our proven culture of knowing how to keep our advisor’s interests and needs at the forefront of our mission,” it explains. “By having experienced advisors running our firm, we avoid culture clashes that spoil the experience of our advisors and clients. This philosophy has us on an impressive growth trajectory.”

According to the Financial Industry Regulatory Authority, Michael Borgia holds 19 years of securities industry experience. Based in Boca Raton, Florida, he has been registered as a broker with Pinnacle Investments since 2019. His past registrations include Dawson James Securities, First Midwest Securities, Gunnallen Financial, Shelman Securities Corporation, Brockington Securities, KSH Investment Group, Harrison Securities, and Ladenburg Capital Management. His credentials include the passage of three securities industry qualifying exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 21 state licenses. (Information current as of April 19, 2025.)

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