Ricky Biel – Pasadena, CA Advisor Profile & Arete Wealth Management Review
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Haselkorn & Thibaut, a national investor fraud law firm, has opened an investigation into Ricky Biel, a Pasadena, California-based financial advisor formerly affiliated with Arete Wealth Management and currently registered as an investment advisor with Favor Wealth Advisors. If you have worked with Ricky Biel or invested in offerings related to Inspired Healthcare Capital, understanding his background and regulatory history is important before making any future decisions or addressing possible concerns about your investments.
Who Is Ricky Biel?
Ricky Biel (CRD#: 4123346) brings over 26 years of experience within the securities industry. His career includes time at several firms, including:
- Favor Wealth Advisors (current)
- Arete Wealth Management (former)
- Hayden Biel & Associates
- Mutual Securities
- Ameriprise Financial Services
- IDS Life Insurance Company
He is currently licensed to operate as an investment advisor in California, Nevada, Louisiana, and Texas, and holds the SIE, Series 66, and Series 7 qualifications. His past involvement in private placement and alternative investment offerings means that some of his clients may have held more complex and illiquid investments.
Summary Table: Ricky Biel’s Public Records and Affiliations
| Field | Value |
|---|---|
| Advisor Name | Ricky Biel |
| Advisor’s CRD | 4123346 |
| Broker-Dealer | Formerly Arete Wealth Management |
| Current Registration | Favor Wealth Advisors |
| Licensing & Exams | SIE, Series 66, Series 7 |
| State Licenses | CA, NV, LA, TX |
Regulatory Background & Disclosures
When evaluating a financial advisor, reviewing regulatory records and any reported complaints is a key step. Ricky Biel’s regulatory history is summarized below:
- SEC Action (2018): Cease-and-desist order issued; $10,000 fine. The SEC found that Biel published internet advertisements featuring client testimonials, violating rules that prohibit such practices. Biel was ordered to cease these activities and pay the fine.
- Customer Complaint (2014): An investor alleged an unsuitable trading strategy while Biel was at Hayden Biel & Associates. The matter was resolved through a $95,000 settlement in 2015.
- Aside from these two events, no other customer complaints, regulatory actions, arbitrations, civil judgments, or criminal disclosures have been reported for Ricky Biel as of the most up-to-date public records review.
Inspired Healthcare Capital Involvement
Ricky Biel’s name appears in filings related to Inspired Healthcare Capital, a company developing senior living facilities. Inspired Healthcare Capital recently filed for bankruptcy, and its history with private placements and alternative investments reportedly resulted in large fees and commissions, with over $100 million paid out before investor distributions stopped. While there is no indication Biel was individually named in any litigation, his connection to these investments is a focal point for investor concern—especially among those who experienced unexpected losses or liquidity problems.
Haselkorn & Thibaut is actively investigating investor claims involving Inspired Healthcare Capital and similar alternative investments. If you invested due to a recommendation from Ricky Biel or anyone at his affiliated firms, you may have grounds for a recovery action.
Understanding Red Flags for Investors
Investors should always remain aware of several key issues when reviewing their statements or considering a financial advisor:
- Past Regulatory Disciplinary Actions: Even a single cease-and-desist order, especially for prohibited advertising practices, can suggest potential compliance weaknesses.
- Customer Complaints and Settlements: Any client complaint that results in a settlement, especially one nearing six figures, deserves attention—even if resolved. It’s important to know if your advisor’s investment recommendations were properly aligned with your risk profile and needs.
- Alternative Investments: If you purchased private placements, real estate, or other non-traditional products through your advisor, review the recent performance and liquidity status, particularly if Inspired Healthcare Capital or similar offerings are involved.
Current Status
According to the latest public records search (including FINRA BrokerCheck, SEC filings, and civil litigation databases), there are currently no outstanding complaints, customer disputes, regulatory actions, or lawsuits involving Ricky Biel beyond those already mentioned. You can always independently review his record using his BrokerCheck profile by searching for CRD# 4123346.
What Can You Do If You’ve Suffered Investment Losses?
If you believe you may have lost money due to investments recommended by Ricky Biel—especially in connection with Inspired Healthcare Capital or other private placement products—the time to act is now. Haselkorn & Thibaut offers a free, confidential consultation to help you understand your options. Our attorneys have 50+ years of combined experience, a 98% success rate, and work on a “no recovery, no fee” basis. We have helped clients nationwide recover millions of dollars in lost investments.
Contact Haselkorn & Thibaut Today
If you have questions or concerns about your investments with Ricky Biel, Favor Wealth Advisors, or former affiliations like Arete Wealth Management, don’t delay seeking professional guidance. Call Haselkorn & Thibaut now at 1-888-885-7162 for your free case review.
Every situation is unique, and you deserve to know your rights. Let us help you take the next step in safeguarding your financial future.
