Norman Meyer: Vestech Advisor Receives $650K Complaint

St. Louis financial advisor Norman Meyer (CRD# 3185642) allegedly recommended unsuitable REITs and annuities, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with NI Advisors and Vestech Securities, as well as an investment advisor with Vestech Asset Management. He is the president of Meyer Financial Group.

Mr. Meyer’s BrokerCheck report discloses several investor complaints. The most recent, filed in July 2024, alleges that as a representative of Vestech Securities, he recommended unsuitable investments in variable annuities and non-traded real estate investment trusts. The pending complaint alleges damages of $650,000.

An earlier investor complaint, filed in 2010, alleged that as a representative of Silver Oak Securities, he acted negligently, breached his fiduciary duty, and recommended an unsuitable investment. The complaint reached a settlement of $75,000.

A third investor complaint, filed in 2010, similarly alleged that as a representative of Silver Oak Securities, he breached his fiduciary duty, made an unsuitable investment recommendation, and engaged in negligence. The complaint reached a settlement of $85,000.

According to the Financial Industry Regulatory Authority, Norman Meyer holds 25 years of securities industry experience. Based in St. Louis, Missouri, he has been registered as a broker with NI Advisors since 2021 and Vestech Securities since 2016, as well as an investment advisor with Vestech Asset Management since 2018. His past registrations include IBN Financial Services, CuttingEdge Advisors, Oakbridge Financial Services, Concorde Investment Services, Concorde Asset Management, Silver Oak Securities, Questar Capital Corporation, and Conseco Securities. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Colorado, Illinois, Michigan, Missouri, South Carolina, and Texas. (Information current as of August 4, 2024.)

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