Haselkorn & Thibaut has opened an investigation into Jeffrey Thomas Higgins, a former financial advisor based in Baker City, Oregon, affiliated with Western International Securities, Inc. If you are a current or former client, understanding the full scope of regulatory actions and customer complaints associated with Mr. Higgins is crucial to protecting your interests and exploring recovery options.
| Advisor Name | CRD | Broker-Dealer(s) |
|---|---|---|
| Jeffrey Thomas Higgins | 2871443 | Western International Securities, Inc. Financial West Group |
Who is Jeffrey Thomas Higgins?
Table of Contents
Jeffrey Thomas Higgins (CRD 2871443) spent over two decades in the financial industry, most recently with Western International Securities, Inc. (2017–June 2024) in Baker City, Oregon. Before that, he was affiliated with the now-expelled Financial West Group (1997–2017). During his career, Higgins managed client portfolios, offered investment recommendations, and was responsible for fiduciary care to investors.
Regulatory Actions and Industry Bar
- Permanent Industry Bar by FINRA: In July 2024, FINRA permanently barred Jeffrey Higgins from the securities industry. The bar followed Higgins’ refusal to cooperate with a regulatory investigation into possible misappropriation of client funds and selling away activities. FINRA cited Higgins’ failure to provide requested documents and his refusal to testify on the record as violations leading to the bar.
- SEC Charges and Federal Lawsuit: Simultaneously, Higgins faces SEC charges and a federal lawsuit alleging that he operated a long-running scheme, resulting in around $1.6 million in investor losses. Allegations include:
- Diversion of client funds into a sham investment program (“Cumulus”)
- Promises of buying stocks at steep discounts (up to 91% below market value)
- Issuing false account statements and annual reports to mislead investors
- Misappropriation of funds for personal use
The SEC complaint alleges that promised securities were often never actually purchased, and client statements greatly overstated actual values. As of the latest reports, Higgins has pleaded not guilty and is awaiting trial.
Employment and Termination Details
- Termination by Western International Securities: Higgins was terminated in June 2024 amid claims of misdirecting and misappropriating client assets. Firm records indicate his alleged misconduct may date back as far as 2007, including activities at his prior firm, Financial West Group.
- Prior Broker-Dealer History: Higgins’ previous association with Financial West Group is noteworthy: this firm was itself expelled from the securities industry in 2020.
Jeffrey Thomas Higgins: Customer Complaints and Investor Disputes
According to the most recent FINRA BrokerCheck disclosures, Jeffrey Higgins’ record reflects a history of significant investor complaints and settlements:
- 7 settled customer complaints — Resulting in collective payouts of nearly $2.3 million
- 3 currently pending disputes — Seeking an additional $500,000 in damages
The complaints primarily allege:
- Unsuitable investment recommendations
- Misrepresentations and omissions of material facts
- Providing fraudulent or exaggerated account statements
Potential Red Flags for Investors
Cases involving financial advisors like Jeffrey Higgins often reveal classic warning signs of securities misconduct. Some common red flags that may indicate investment fraud include:
- Selling away: Offering investments outside of (or not approved by) the advisor’s broker-dealer
- Misappropriation of funds: Use of client assets for personal benefit
- False or misleading account statements
- Promises of high returns with little or no risk
- Unauthorized investment strategies or trades
- Lack of transparency regarding investment costs or risks
If you have noticed these behaviors or suffered unexplained losses, it’s critical to seek guidance from a legal professional.
Frequent Investor Questions
- What are the main accusations against Jeffrey Thomas Higgins?
He is accused of orchestrating a fraudulent investment scheme over 17 years, diverting client funds, promising unrealistic stock purchase opportunities, and providing falsified statements researchers and the SEC allege caused at least $1.6 million in investor losses. - How many complaints are on record?
Public records indicate at least seven settled complaints totaling nearly $2.3 million, plus three active investor disputes for around $500,000 in additional alleged damages. - Is recovery possible for investors?
Yes, affected investors may be able to recover losses through FINRA arbitration or other avenues. Broker-dealers are obligated to supervise their advisors; failure to do so may result in firm liability. A seasoned investment fraud attorney can review your case and discuss potential recovery strategies.
Haselkorn & Thibaut: Your Resource for Investor Recovery
If you invested with Jeffrey Thomas Higgins at Western International Securities, Inc. or Financial West Group and suffered financial losses, Haselkorn & Thibaut is ready to help. Our firm—serving clients nationwide with over 50 years of experience and a 98% success rate—handles claims involving:
- Broker fraud or misrepresentation
- Selling away/private placement violations
- Unauthorized and unsuitable investment recommendations
- Failure of supervision by broker-dealer firms
No recovery, no fee. Your initial consultation is always free. To discuss your case confidentially, call 1-888-885-7162 or visit our website today—a seasoned securities attorney will speak with you personally.
If you are concerned about your investments or believe you have suffered losses due to Jeffrey Thomas Higgins, don’t wait—contact Haselkorn & Thibaut now for a complimentary review of your situation.
