A pending customer complaint disclosed on Michael Montalvo’s FINRA BrokerCheck report alleges that the financial advisor took an undisclosed loan and failed to repay it.
The written complaint was received on December 11, 2025, and reports $189,500 in alleged damages. It identifies Raymond James & Associates Inc. as the employing firm when the activities occurred. BrokerCheck does not list this complaint as an arbitration or civil lawsuit. (FINRA)
A Separate FINRA Bar
Montalvo, CRD No. 4549103, was barred from association with FINRA member firms in all capacities on August 24, 2026.
The regulatory disclosure concerns his failure to respond to FINRA information requests and the subsequent suspension process. It states that he was automatically barred after failing to request termination of his suspension within the required period. This action does not establish the customer’s loan allegations or constitute a customer damages award. (FINRA)
Why a Personal Loan to an Advisor Deserves Scrutiny
A request for a personal loan should be examined separately from ordinary account activity.
FINRA Rule 3240 restricts borrowing and lending between registered representatives and their customers. Permitted arrangements must satisfy specified conditions, including firm procedures and, for certain arrangements, advance notification and written approval. A personal relationship alone does not remove those requirements. (FINRA)
For an investor reviewing a similar situation, useful questions include:
- Who received the money?
- Was the arrangement documented as a loan or described as an investment?
- What repayment terms were promised?
- Did the brokerage firm know about or approve the arrangement?
- Were any payments made?
- What explanation was given when payments stopped?
These are review questions, not additional findings about Montalvo or Raymond James.
Preserve the Paper Trail
Before a consultation, gather the loan agreement, bank records, checks, wire confirmations, and communications about repayment.
Prepare a short timeline showing when the money was transferred, when repayment was due, and what happened afterward. List any repayments separately from the original amount advanced.
If the arrangement was discussed mainly by phone or in person, make a dated note of your recollection. Preserve original messages rather than relying only on screenshots or summaries.
Discuss an Unpaid Advisor Loan With Sonn Law Group
If you lent money to Michael Montalvo or have concerns about a financial arrangement he recommended, contact Sonn Law Group to discuss the records and circumstances.
Ask counsel to evaluate potential responsibility, the appropriate forum, applicable deadlines, and practical recovery considerations. Do not assume that a pending complaint or regulatory bar guarantees repayment.
The customer’s allegations remain unproven. This article provides general information, not legal advice. Alleged damages are not a settlement estimate, and no recovery is guaranteed.
