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John Micera: Exposed with the Allegations of SEC (2023)


Who is John Micera (CRD#: 1255342)?Everything you need to know about John Micera and their accolades

In 1984, John Micera started working for the renowned New York City municipal bond company Gabriele, Hueglin & Cashman. That company was bought by Tucker Anthony in 1985, and RBC Wealth Management bought Tucker Anthony in 2002.

Since 1989, John Micera, a managing director, has served on the company’s chairman’s council. In 2019, 2020, 2021, 2022, and 2023, John was named one of Barron’s Top 1,200 Financial Advisors. Additionally, in 2022 and 2023, he received recognition as an Advisor to Watch by Advisor Hub and a Forbes Best-in-State Wealth Advisor.


About FIRM:History, achievements, leadership, lawsuits, & disputes

What is RBC Wealth Management?

As mentioned earlier, RBC Wealth Management is a division of the Royal Bank of Canada that provides wealth management services to high-net-worth individuals, families, and institutions. These services include investment management, financial planning, tax planning, insurance solutions, and estate planning.

One of the key benefits of using RBC Wealth Management is the personalized service clients receive. Each client is assigned a dedicated financial advisor who works with them to create a customized plan that takes into account their unique financial goals, risk tolerance, and overall financial situation. Advisors also provide ongoing support to help clients stay on track and adjust their plans as needed.

RBC Wealth Management Services

Now that we know what RBC Wealth Management is, let’s take a closer look at the specific services they offer.

Investment Management

RBC Wealth Management provides investment management services to help clients grow their wealth over time. This includes creating a diversified investment portfolio that is tailored to the client’s risk tolerance and financial goals. Advisors also provide ongoing monitoring and rebalancing of the portfolio to ensure it stays aligned with the client’s objectives.

Financial Planning

In addition to investment management, RBC Wealth Management offers financial planning services to help clients achieve their long-term financial goals. This includes creating a comprehensive financial plan that takes into account retirement planning, tax planning, estate planning, and risk management. Advisors work with clients to identify their financial goals and develop a plan that is customized to their unique situation.

What is a Financial Advisor?

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A financial advisor is a specialist who offers professional financial advice to people looking to accomplish particular financial goals. You work with a financial advisor to develop a thorough financial plan that is specific to your situation, much like you would hire an architect to construct the blueprint for your home. Understanding your existing financial condition, including your income, costs, savings, and spending patterns, is a requirement for this collaboration.

Tax Planning

RBC Wealth Management also provides tax planning services to help clients minimize their tax liabilities and maximize their after-tax returns. Advisors work with clients to identify tax-efficient investment strategies and help them navigate complex tax laws and regulations.

Insurance Solutions

RBC Wealth Management offers a range of insurance solutions to help clients protect their wealth and minimize their financial risk. This includes life insurance, disability insurance, long-term care insurance, and liability insurance. Advisors work with clients to identify their insurance needs and develop a plan that provides the appropriate level of coverage.

Estate Planning

Finally, RBC Wealth Management provides estate planning services to help clients plan for the transfer of their wealth to future generations. This includes creating a comprehensive estate plan that takes into account tax planning, charitable giving, and the distribution of assets. Advisors work with clients to create a plan that is customized to their unique needs and goals.

Who is RBC Wealth Management for?

Now that we have a better understanding of what services RBC Wealth Management offers, let’s discuss who it is for. RBC Wealth Management primarily caters to high-net-worth individuals, families, and institutions. According to their website, clients typically have investable assets of at least $1 million CAD.

However, it is important to note that RBC Wealth Management also offers services to clients with lower investable assets through their RBC Dominion Securities subsidiary. This subsidiary provides full-service brokerage and investment advisory services to clients with a minimum of $100,000 CAD to invest.

RBC Wealth Management Disadvantages

While RBC Wealth Management offers many benefits to clients, there are also some potential disadvantages to consider. One of the most significant drawbacks is the cost. RBC Wealth Management charges a set fee based on a percentage of the client’s assets under management. This fee can range from 1% to 2% or more, depending on the amount of assets being managed.

Another potential disadvantage is the lack of transparency. Some critics argue that RBC Wealth Management’s fees are not always clear and that clients may not know exactly what they are paying for. Additionally, there have been concerns about conflicts of interest, particularly with regards to the sale of in-house products.

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RBC Wealth Management Fees

As mentioned earlier, RBC Wealth Management charges a set fee based on a percentage of the client’s assets under management. This fee can range from 1% to 2% or more, depending on the amount of assets being managed.

It is important to note that there may be additional fees associated with specific services, such as financial planning or tax planning. Clients should be sure to discuss all fees and charges with their financial advisor before agreeing to any services.

RBC Wealth Management Boys Club Controversy

In 2019, RBC Wealth Management was embroiled in a controversy surrounding allegations of gender discrimination and a toxic work environment. A group of female financial advisors filed a class-action lawsuit against the bank, alleging that they were subjected to a hostile work environment and denied equal pay and opportunities for promotion.

RBC denied the allegations and stated that they were committed to creating a workplace that is free from discrimination and harassment. The case is ongoing, and it remains to be seen what the outcome will be.

RBC Wealth management lawsuit

In addition to the Boys Club controversy, RBC Wealth Management has also faced other legal challenges in recent years. In 2018, the bank was fined $1 million CAD by the Ontario Securities Commission for failing to adequately supervise a former financial advisor who engaged in unauthorized trading.

More recently, RBC Wealth Management was named in a lawsuit filed by victims of a Ponzi scheme perpetrated by a former financial advisor. The lawsuit alleges that RBC failed to adequately supervise the advisor and ignored warning signs of the scheme.


John Micera Disclosures: BrokerCheck, FINRA, And SEC ReportsEvery complaint, disclosure, and litigation against John Micera

The disclosure of client grievances and arbitrations, regulatory actions, job terminations, bankruptcy filings, and criminal or civil legal procedures is a requirement for all anyone registered to offer securities or give investment advice.

Below is a description of the sort of disclosure event involved:

  • Clients claim that between 1998 and 2003, the broker recommended unsuitable securities, which led to losses in their accounts.

FINRA’s BrokerCheck

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SEC Litigations & Forms

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Source: John Micera – SEC Site Search Search Results


John Micera Lawsuits, Legal Battles, & DisputesActive database of all lawsuit documents (subject to availability) against John Micera

Most court cases filed in the United States of America are archived on CourtListener, UniCourt,, Justia, and Trellis. law, and Law360. If John Micera has been involved in any such lawsuits, then you can find the documents using the links down below:

There might be more pending lawsuits against John Micera which are not listed on these directories. Lawsuit files are often deleted from online directories. So if you cannot find any lawsuits against Theresa Gorin on these websites, you can contact the local authorities and check if they have a physical copy of any cases.


John Micera Complaints, Class Action Lawsuits & Legal BattlesRead all class action lawsuits and SEC complaints against John Micera

The following websites/directories are the best sources for finding complaints, litigations, and disputes against finance advisors. You can find all the complaints against John Micera using the websites down below:

You can contact the law firms mentioned above if facing issues with John Micera or any financial advisor.


Better Alternatives To John Micera (By Experts):Find the top 3 alternatives to John Micera

These recommendations are based on the ratings of, the biggest financial advisor review platform on the internet.
Assets Managed
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Summit Rock Advisors
#1 Rated Investment Advisor
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Assets Managed
$19.9 Billion
0 Disciplinary Actions
1:2 advisor/client ratio
3 Conflict Laerts
Top Recommendation
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Fort Washington Investment Advisors
Best Customer Service In The Market
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Assets Managed
$52.42 Billion
Good advisor/client ratio
Highest Rated On Independent Platforms
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Assets Managed
$17.3 Billion
High overall rating
Several complaints on platforms
You can check out the top 10 financial advisors in the U.S. to learn more.