Micheal Lucas Resigns over Alleged Rule Violations

Micheal Lucas (CRD# 5695141[1]), formerly an adviser registered with Elevated Capital Advisors, resigned from his firm following allegations involving client documents. MDF Law is investigating the former Anthem, Arizona-based financial professional for similar conduct. If you suffered losses in your accounts, call for a free consultation with an attorney.

More information about Mr. Lucas’ history as a broker follows below. This post is based on a January 14, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.

Why Did Adviser Resign from Elevated Capital?

On December 18, 2024, Elevated Capital Advisors filed a disclosure concerning Mr. Lucas’ resignation from the firm. According to the disclosure, he was “permitted to resign” after he was alleged to have provided a document that needed client initials. Instead of providing such, the disclosure alleges, he provided “documents with initials that did not match previous initials from the same clients.” 

NYLife Securities Fired Micheal Lucas in 2013

A former member firm fired Mr. Lucas following allegations of misconduct. In September 2013, NYLife Securities filed a disclosure stating that it terminated him for allegedly violating company policy. More specifically, the disclosure states that he recommended “an unsuitable replacement of a traditional life insurance product.” This recommendation allegedly “enabled an agent under his supervision to meet a production requirement.” The disclosure specified that no securities products were involved.

Firm Settled Investor Dispute for $748,000

In addition to his departures from his former broker-dealer firms, Mr. Lucas has also been involved in an investor dispute. On October 24, 2018, an investor lodged a claim alleging that he intentionally misled them to sign documents for an annuity funded by the proceeds from a 401(k) account, though he allegedly knew that the customer wished “to have his funds deposited into a liquid money market account.” His former member firm settled the dispute for $748,303.32.

FINRA: Adviser Last Based in Anthem, Arizona

Mr. Lucas launched his career as a broker when he registered with NYLife Securities in 2009. Over the subsequent years, he went on to work with firms. These include MML Investors Services, Mutual of Omaha Investor Services, and Gradient Advisors. He joined his most recent investment adviser firm, Elevated Capital Advisors, in 2023. Based at its Anthem, Arizona office, he remained at the firm until his resignation in December 2024. Boasting 11 years of experience as a broker, he has completed four industry exams, including the Series 65.

Investment Fraud Victim? Call MDF Law

If you lost money working with Micheal Lucas, you may have grounds to file a FINRA arbitration claim for damages. Contact MDF Law to speak with one of our broker fraud attorneys[2] for free, especially if your account was traded excessively or your portfolio included unsuitable products. We accept cases on a contingency basis, meaning we only collect a fee if our clients collect a recovery. Call 800-767-8040 for a free consultation today.