At Haselkorn & Thibaut, P.A., our sole focus is on representing investors who have suffered financial losses due to investment fraud, misrepresentation, or unsuitable financial advice. We are currently reviewing publicly available information involving Norbert Helmut Filian, a financial advisor affiliated with Equitable Advisors, based in Rolling Meadows, Illinois.
Mr. Filian has been the subject of multiple customer disputes, with allegations that raise concerns for investors. While FINRA (Financial Industry Regulatory Authority) has not imposed formal disciplinary action to date, the disclosures listed on Mr. Filian’s BrokerCheck (CRD #2998784) profile warrant careful review for any investor who has worked with him in recent years.
Who is Norbert Filian?
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Norbert Filian is a registered financial advisor currently employed by Equitable Advisors, LLC. He operates out of the firm’s Rolling Meadows, Illinois office and is licensed to conduct securities business in multiple states, including Illinois, Florida, Arizona, Indiana, Michigan, and others. His professional registrations include:
- General Securities Representative
- Investment Adviser Representative
Mr. Filian previously worked for The Equitable Life Assurance Society of the United States, a company offering life insurance and investment services. Over the years, he has assisted clients with retirement planning, insurance solutions, asset allocation strategies, and other investment-related matters.
His CRD number (2998784) is a unique identifier used by regulators and investors to track professional conduct, regulatory disclosures, and licensing.
Customer Disputes and Allegations Filed with FINRA
Public records indicate that Mr. Filian has been involved in at least three customer disputes, all of which allege unsuitable investment recommendations and misrepresentations regarding liquidity, particularly in relation to non-traded REITs (Real Estate Investment Trusts).
Case Highlights:
- Case No. 23-03300 (Settled in 2023):
- Allegations: Unsuitable sale of a REIT product and failure to adequately disclose liquidity risks.
- Settlement Amount: $13,367
- Amount Contributed by Filian: $8,030
- Case No. 24-01252 (Filed August 2024):
- Status: Pending
- Allegations: Unsuitable recommendation involving a REIT investment.
- Damages: Undisclosed
These disputes suggest a recurring pattern of unsuitable product sales and potential misrepresentation, particularly concerning the risk profile and liquidity of non-traded REITs — complex investment vehicles that may not be appropriate for many retail investors.
FINRA Rules at Issue: Rule 2111 and Rule 2010
The customer complaints involving Mr. Filian may involve potential violations of FINRA Rule 2111 and Rule 2010, which are essential to the ethical and legal standards of the securities industry:
- FINRA Rule 2111 (Suitability): Requires that investment recommendations must be suitable for the client’s financial situation, objectives, risk tolerance, and investment experience.
- FINRA Rule 2010 (Standards of Commercial Honor): Mandates that financial professionals observe high standards of commercial honor and just and equitable principles of trade.
Violations of these rules can result in significant investor harm, including financial losses, diminished portfolio value, and compromised retirement savings.
Why This Matters to Investors
Non-traded REITs and similar alternative investments are often marketed with the promise of stable returns and diversification. However, they are frequently illiquid, carry high fees, and may not align with the long-term goals or risk tolerance of many investors. In some cases, the risks are not fully explained to clients — especially elderly or conservative investors seeking principal preservation.
If you were sold a non-traded REIT or similar complex product and later discovered liquidity restrictions, declining valuations, or unexpected risks, you may have legal grounds to recover your investment losses through FINRA arbitration.
What Are Your Legal Rights as an Investor?
Investors harmed by unsuitable recommendations or misrepresentation of investment risks have the right to pursue recovery through FINRA arbitration, a process that allows individual investors to hold financial advisors and firms accountable outside of traditional court.
At Haselkorn & Thibaut, we offer:
- 📞 Free and confidential case evaluations
- 💼 Contingency-based representation — You pay no legal fees unless we recover money for you
- ✅ A team of securities attorneys with over 50 years of combined experience
- 🌎 Nationwide representation of investors across all 50 states
Next Steps: Contact Haselkorn & Thibaut Today
If you or someone you know invested with Norbert Filian at Equitable Advisors, and you’ve experienced losses due to unsuitable investment recommendations, call us today to review your options. It costs nothing to speak with an attorney, and time may be limited depending on when your investment occurred.
📞 Call Haselkorn & Thibaut at 1-888-885-7162 for a free consultation.
We are here to help investors protect their rights and recover losses tied to potential misconduct. Don’t wait for a regulator to act — take control of your financial future by exploring your legal options today.
About Haselkorn & Thibaut, P.A.
Haselkorn & Thibaut is a national law firm dedicated exclusively to representing investors in cases involving brokerage misconduct, financial advisor negligence, and investment losses. With offices in Florida, Texas, New York, Arizona, and North Carolina, our attorneys have helped thousands of clients recover millions through arbitration, mediation, and litigation.
Visit us online at www.investmentfraudlawyers.com or call 1-888-885-7162 to speak directly with a member of our team.
