Jerry Kiefer, a broker and investment advisor associated with Equitable Advisors, LLC (CRD 6627), is facing allegations of misrepresenting investments to a customer. The customer dispute, which was denied by the firm, occurred on January 3, 2024, according to the advisor’s FINRA BrokerCheck report.
The complaint alleges that Kiefer misrepresented the customer’s investments, potentially leading to financial losses. While the firm found no basis for the complaint, the incident raises concerns about the advisor’s conduct and the firm’s oversight. Kiefer has been registered with Equitable Advisors, LLC in Oklahoma since June 2, 2006, serving as both a broker and an investment advisor.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Jerry Kiefer and Equitable Advisors, LLC. The firm, with over 50 years of experience and a 98% success rate, offers free consultations to clients who may have suffered financial losses due to advisor misconduct.
Investment fraud and bad advice from financial advisors are unfortunately common occurrences in the industry. According to a Forbes article, the U.S. Securities and Exchange Commission (SEC) estimates that approximately $40 billion is lost to investment fraud each year. Misrepresentation of investments is one of the most common forms of investment fraud, leading to significant financial losses for unsuspecting investors.
Understanding FINRA Rules and Misrepresentation
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FINRA Rule 2020 prohibits brokers and investment advisors from making material misrepresentations or omitting material facts when dealing with customers. Misrepresentation can occur when an advisor provides false or misleading information about an investment’s risks, potential returns, or other crucial aspects.
In simple terms, advisors must be truthful and transparent when discussing investments with their clients. They should present a balanced view of the investment, including both potential benefits and risks, to help clients make informed decisions. Failing to do so can lead to disciplinary action by FINRA and potential legal action by affected investors.
The Importance of Accurate Investment Representations
Accurate representation of investments is crucial for investors to make sound financial decisions. When advisors misrepresent investments, they can cause investors to take on more risk than they are comfortable with or invest in products that do not align with their financial goals.
Misrepresentation can lead to significant financial losses for investors, as they may invest based on false or misleading information. In some cases, these losses can have a devastating impact on an investor’s financial well-being, affecting their ability to save for retirement, pay for education, or achieve other important milestones.
Protecting Yourself from Investment Misrepresentation
Investors can take several steps to protect themselves from investment misrepresentation:
- Research investments thoroughly before committing funds
- Ask questions and seek clarification from advisors
- Review account statements regularly for suspicious activity
- Diversify investments to minimize risk
- Be cautious of investments that seem too good to be true
If you suspect that your financial advisor has misrepresented investments or engaged in other forms of misconduct, it is essential to take action promptly. Contact Haselkorn & Thibaut for a free consultation to discuss your legal options and potential recovery of losses through FINRA arbitration.
Recovering Losses Through FINRA Arbitration
FINRA arbitration is a dispute resolution process that allows investors to seek recovery of losses caused by advisor misconduct, including misrepresentation. Arbitration is typically faster and less expensive than traditional litigation, making it an attractive option for investors.
Haselkorn & Thibaut has extensive experience representing investors in FINRA arbitration cases. With a 98% success rate and a commitment to delivering results, the firm fights tirelessly to help clients recover their losses. Their “No Recovery, No Fee” policy ensures that clients do not pay any legal fees unless a successful recovery is obtained.
If you believe you have suffered financial losses due to investment misrepresentation or other forms of advisor misconduct, contact Haselkorn & Thibaut today at 1-888-628-5590 for a free consultation. Their experienced attorneys will review your case and provide guidance on the best course of action to protect your rights and recover your losses.
