Haselkorn & Thibaut, P.A., a leading national investment fraud law firm, wishes to inform investors about regulatory matters concerning Neal Edward Hayias, a stockbroker and Registered Investment Advisor at Equitable Advisors, LLC (CRD #854703).
Our securities attorneys are currently reviewing multiple investor concerns related to Mr. Hayias’s investment recommendations and practices. As a firm dedicated to investor protection, we believe potential affected investors should be aware of these matters.
Executive Summary
Table of Contents
Key points investors should know:
- Neal Edward Hayias (CRD
#854703) has been the subject of customer complaints while working at Equitable Advisors - A $28,000 settlement was reached in April 2023 related to alleged misrepresentations about certain investment products
- A new FINRA arbitration case (No. 24-01252) was filed on August 8, 2024, concerning allegedly unsuitable investment recommendations
- Investors who have worked with Mr. Hayias may be entitled to recovery of losses through FINRA arbitration
- Haselkorn & Thibaut provides free consultations to review potential claims at 1-888-885-7162
Professional Background and Registration History
Mr. Hayias currently serves as a stockbroker and Registered Investment Advisor at Equitable Advisors, LLC. His Central Registration Depository (CRD) number is #854703, which serves as his unique identifier throughout the financial industry. This number remains constant regardless of employer changes and can be used by investors to research his complete professional history.
Mr. Hayias’s employment history includes positions at several major financial institutions:
- Equitable Advisors, LLC – Current employer
- AXA Advisors – Previous employment prior to the company’s rebranding to Equitable
- The Mutual Life Insurance Company of New York – Earlier career experience
- MONY Securities Corporation – Initial industry position
As a Registered Investment Advisor, Mr. Hayias is held to fiduciary standards that require him to place client interests above his own. This legal obligation demands transparency, suitable investment recommendations, and full disclosure of all material facts relating to investment decisions and potential conflicts of interest.
Detailed Regulatory and Arbitration History
The following regulatory events in Mr. Hayias’s career warrant investor attention:
April 2023 Settlement (Case No. 21-00968)
A formal complaint filed through FINRA’s dispute resolution process resulted in a $28,000 settlement. The case alleged that between 2012 and 2015, Mr. Hayias provided incomplete or potentially misleading information regarding:
- The risks associated with Real Estate Investment Trusts (REITs)
- The liquidity limitations of Business Development Companies (BDCs)
- The fee structures and potential return expectations of these complex investments
Our investigation indicates that approximately half of this settlement amount ($14,000) was paid directly by Mr. Hayias, with his employing firm covering the remainder.
Current Pending FINRA Arbitration (Case No. 24-01252)
Filed on August 8, 2024, this ongoing case alleges unsuitable investment recommendations, specifically concerning REITs sold to clients. While damages remain unspecified at this time, the case raises important questions about investment suitability standards and risk disclosure practices.
The existence of multiple complaints within a defined timeframe suggests potential patterns of conduct that merit thorough investigation. Haselkorn & Thibaut is actively monitoring this pending arbitration as it progresses through FINRA’s dispute resolution process.
Investment Products Under Comprehensive Review
Our securities attorneys are conducting in-depth investigations into several investment products recommended by Mr. Hayias, with particular focus on:
Real Estate Investment Trusts (REITs)
REITs present specific investor concerns including:
- Limited Liquidity – Many non-traded REITs lock up investor capital for extended periods, creating potential hardship if funds are needed
- Valuation Complexity – Determining accurate market value can be challenging due to their non-traded status
- High Fee Structures – Front-end loads and ongoing management fees may significantly impact total returns
- Distribution Sustainability – Some distributions may include return of principal rather than genuine investment income
- Disclosure Adequacy – The complexity of these products requires comprehensive disclosure to ensure investor understanding
Business Development Companies (BDCs)
BDCs invest in small and mid-sized businesses, often with debt instruments that carry elevated risk profiles. Specific issues under review include:
- Concentration risk in specific industry sectors
- Credit quality of underlying loan portfolios
- Transparency of fee structures and expenses
- Potential conflicts of interest in investment selection
- Accurate representation of risk-adjusted return potential
Class B Mutual Fund Shares
Our investigation includes a review of Class B mutual fund share recommendations, which typically feature:
- Higher annual expense ratios compared to Class A shares
- Contingent deferred sales charges that decrease over time
- No front-end load but potentially higher long-term costs
- Complex breakpoint discount considerations
Mutual Fund Breakpoint Discounts
Of particular concern regarding mutual fund investments:
- Whether investors received entitled volume discounts on mutual fund purchases
- If investment amounts across related accounts were properly aggregated to achieve breakpoint thresholds
- Whether rights of accumulation were appropriately applied to reduce sales charges
- If letter of intent opportunities were presented to investors making substantial investments
Understanding FINRA’s Role in Investor Protection
The Financial Industry Regulatory Authority (FINRA) serves as the primary regulatory body overseeing brokers and brokerage firms in the United States. FINRA maintains the Central Registration Depository (CRD) system that contains essential information about brokers, including:
- Employment history
- Professional qualifications
- Regulatory events
- Customer complaints
- Arbitration outcomes
This information is partially available to the public through FINRA’s BrokerCheck tool, which investors should consult before establishing relationships with financial professionals. However, understanding the full implications of a broker’s record often requires expert legal interpretation.
Investor Recovery Options Through FINRA Arbitration
Investors who have experienced losses while working with Mr. Hayias may have viable paths to financial recovery. The FINRA arbitration process offers several advantages over traditional court litigation:
- Expedited Resolution – Typically concludes within 12-16 months
- Cost Efficiency – Generally less expensive than court proceedings
- Industry Expertise – Arbitrators often have relevant financial industry knowledge
- Binding Decisions – Awards are final and enforceable
- Limited Appeals – Providing faster closure for affected investors
FINRA’s rules require member firms and their associated persons to arbitrate disputes with customers when requested. This mandatory arbitration requirement creates an accessible forum for investors seeking redress for potential misconduct.
Common Legal Theories in Broker Dispute Cases
Haselkorn & Thibaut regularly pursues several legal theories in cases involving potential broker misconduct:
Unsuitable Investment Recommendations
Financial advisors must recommend only investments that align with each client’s:
- Stated investment objectives
- Risk tolerance
- Financial situation
- Investment experience
- Time horizon
- Liquidity needs
Misrepresentation and Omission
These claims arise when material facts about investments are:
- Inaccurately presented
- Not disclosed at all
- Minimized inappropriately
- Presented with emphasis only on positive aspects while downplaying risks
Breach of Fiduciary Duty
As a Registered Investment Advisor, Mr. Hayias may be subject to fiduciary standards that require:
- Placing client interests above his own
- Avoiding conflicts of interest
- Full disclosure of all material facts
- Due diligence in research and recommendations
Failure to Supervise
Brokerage firms like Equitable Advisors have a duty to:
- Monitor representative activities
- Review trading patterns
- Ensure compliance with regulatory requirements
- Address red flags that suggest potential misconduct
How Haselkorn & Thibaut Can Help Protect Your Financial Future
With decades of combined experience representing investors in securities arbitration, our attorneys provide comprehensive services for affected investors:
Thorough Case Evaluation
Our process begins with a detailed, free consultation that includes:
- Analysis of all account statements and investment documentation
- Review of communications with your broker
- Assessment of your investment objectives and risk tolerance
- Comparison of recommended investments against suitability standards
- Calculation of potential damages and recovery opportunities
Expert FINRA Arbitration Representation
Our securities attorneys provide end-to-end advocacy through:
- Strategic case assessment to identify strongest legal theories
- Comprehensive documentation review of all investment materials
- Detailed damage calculations to maximize potential recovery
- Skilled negotiation during settlement discussions
- Expert presentation of evidence during hearings
- Full representation throughout the entire FINRA process
Investor-Friendly Fee Structure
Haselkorn & Thibaut is committed to making legal representation accessible:
- Contingency fee basis – No recovery means no attorney fees
- Free initial consultation with experienced securities attorneys
- No upfront costs to begin your case evaluation
- Transparent fee agreements with no hidden charges
Why Investors Choose Haselkorn & Thibaut
As a nationally recognized investment fraud law firm, we bring distinct advantages to investor representation:
- Specialized Expertise in securities law and FINRA arbitration
- Former Financial Industry Professionals on our legal team who understand industry practices
- National Reputation for successful investor advocacy
- Client-Centered Approach focused on your specific situation
- Proven Results recovering millions for investors
Important Deadlines for Potential Claims
Investors should be aware of critical time limitations that affect their legal rights:
- FINRA arbitration claims generally must be filed within six years of the events giving rise to the dispute
- State statutes of limitations may impose additional time constraints
- Certain contractual agreements may further restrict filing deadlines
Prompt action is essential to preserve your rights to potential recovery. Consulting with experienced securities attorneys at the earliest indication of potential misconduct provides the best opportunity for successful resolution.
Contact Haselkorn & Thibaut Today for Investor Protection
If you have invested with Neal Edward Hayias at Equitable Advisors and experienced losses or have concerns about the suitability of your investments, we strongly encourage you to contact our securities attorneys for a free, confidential consultation.
Call: 1-888-885-7162
Our experienced investor advocates are standing by to review your situation and discuss potential options for recovery. The initial consultation is completely free and without obligation.
Don’t delay in protecting your financial future – there are strict time limitations on when claims can be filed.
