Michael Tannery: $150K Complaint Against Tannery Company Advisor

A recent investor complaint against Richardson, Texas financial advisor Michael Tannery (CRD# 1538345) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Independent Financial Group, doing business as Tannery Company.

Mr. Tannery’s BrokerCheck report discloses one recent investor complaint. Filed in January 2025, it alleges that as a representative of Independent Financial Group, he recommended unsuitable investments, including a non-traded REIT. The pending complaint alleges damages of $150,000.

In a statement included with the complaint’s disclosure, Mr. Tannery defends himself against the allegations, writing that an investigation did not find evidence to support them. “The fact that an investment did not perform as expected is not evidence of wrongdoing nor is it sufficient support for an allegation regarding the suitability (or, in this case, alleged lack thereof) of an investment,” he states. “There is a loose allegation that disclosures were not made; however, there is paperwork signed by the client that contains numerous disclosures about key aspects of the investments in question (including, but not limited to their illiquidity).”

According to the Financial Industry Regulatory Authority, Michael Tannery holds 36 years of securities industry experience. Based in Richardson, Texas, he has been registered as a broker and an investment advisor with Independent Financial Group since 2013, doing business as Tannery Company. His past registrations include LPL Financial (2001-2013), Independent Financial Group (2013), Prudential Securities (1998-2001), Merrill Lynch (1992-1998), and Equisource Securities Corporation (1986-1991). His credentials include the passage of seven securities industry qualifying exams: the Municipal Fund Securities Principal Examination, or Series 51; the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Direct Participation Programs Representative Examination, or Series 22; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, Arkansas, California, Florida, Kansas, New York, Oklahoma, Texas, Virginia, and Wisconsin. (Information current as of January 18, 2025.)

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