Close Menu
Free Consultation: 888-976-6111

Rachel Heege: REIT Complaint Against Ex-National Securities Advisor

A new investor complaint filed against Lake Ronkonkoma, New York financial advisor Rachel Heege (CRD# 4834840) alleges that she engaged in misconduct relating to a real estate investment trust product. Records provided by the Financial Industry Regulatory Authority indicate that she is currently registered as a broker and an investment advisor with B. Riley Wealth Management.

Ms. Heege’s BrokerCheck report discloses one investor complaint. Filed in March 2023, it alleges that as a representative of National Securities Corporation, she “recommended speculative purchases in illiquid REITs.” The pending complaint alleges damages of $30,000.

FINRA registered representatives like Ms. Heege are beholden strict industry standards mandating that they recommend only investments that are considered appropriate for their customers’ investment objectives and backgrounds. FINRA Rule 2111 establishes this standard, referred to as the suitability standard. It states specifically that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is suitable for a customer’s profile, which includes their financial situation, income, net worth, risk tolerance, investment goals, and other factors. An investment in a high-risk, illiquid REIT, for example, would likely be unsuitable for a customer whose risk tolerance is low and whose investment goals are conservative. Brokers who recommend their customers invest in unsuitable products may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Rachel Heege holds 18 years of securities industry experience. Based in Lake Ronkonkoma, New York, she has been a broker and an investment advisor with B. Riley Wealth Management since 2014 and 2022, respectively. Her past registrations include National Securities Corporation (Lake Ronkonkoma, New York; 2013-2022), Asset & Financial Planning (Lake Ronkonkoma, New York; 2013-2014), and Prime Capital Services (Lake Ronkonkoma, New York; 2004-2013). Her credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She is licensed in Colorado, Connecticut, Florida, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, and Texas. (Information current as of April 8, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Tom Ley: Wells Fargo Advisor Faces Investor Complaint

    Toms River, New Jersey financial advisor Tom Ley (CRD# 1127048) recently received an investor complaint alleging that his conduct resulted...

    Read More
  • Steve Nielsen: Bond Complaints Against Centaurus Advisor

    Recent investor complaints against Gilbert, Arizona financial advisor Steve Nielsen (CRD# 4184826) allege that he recommended unsuitable, high-risk investments. Financial...

    Read More
  • Sam Prapaniku: $115K Complaint Against Ex-Bancorp Advisor

    Costa Mesa, California financial advisor Sam Prapaniku (CRD# 5499421) recently received an investor complaint alleging that he recommended unsuitable investments....

    Read More
  • Matt Hiss: Legacy Financial Advisor Faces $125K GWG Complaint

    Atwood, Kansas financial advisor Matt Hiss (CRD# 5386963) allegedly misrepresented an investment in GWG L bonds, according to a recent...

    Read More
  • Previous
  • Next