Michelle Anthony: Modern Wealth Advisor Discloses $100K Bond Complaint

A recent investor complaint against Tucson, Arizona financial advisor Michelle Anthony (CRD# 4512228) alleges that her advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that she is registered as a broker and an investment advisor with Centaurus Financial, doing business as Modern Wealth Management.

Ms. Anthony’s BrokerCheck report discloses several investor complaints. The most recent, filed in June 2024, alleges that as a representative of Centaurus Financial, she “recommended & misrepresented unsuitable, high-risk, illiquid investments” in corporate bond products and breached her fiduciary duty. The pending complaint alleges damages of $100,000.

In a statement included with the complaint’s disclosure, Ms. Anthony defended herself against the allegations, which she described as meritless. “The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment,” she wrote. “The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments.”

An earlier investor complaint, filed in 2023, similarly alleged that as a Centaurus representative, she “recommended a high-risk, unsuitable, and illiquid investment.” In March 2024 the complaint reached a settlement of $59,709.66.

A third investor complaint, filed in 2022, alleged that she recommended illiquid investments as a representative of Centaurus Financial. In 2023 the complaint reached a settlement of $47,500.

Modern Wealth Management’s website includes a profile of Ms. Anthony that describes her background and experience as the firm’s founder, owner, and president. “Michelle specializes in comprehensive holistic financial planning,” it explains. “She takes the time to listen and understand her clients’ needs. She also adds an educational feature to help ensure all her clients make informed decisions. Michelle also has a passion for financial literacy. She has spent the past decade teaching adult educational classes. These classes are designed to empower people to take control of their financial future.”

According to the Financial Industry Regulatory Authority, Michelle Anthony holds 20 years of securities industry experience. Based in Tucson, Arizona, she has been a broker and investment advisor with Centaurus Financial since 2014, doing business as Modern Wealth Management. She holds 26 state licenses. (Information current as of August 23, 2024.)

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