Travis Riggs: $64K Complaint Against Ex-Equitable Advisors Broker

Bentonville, Arkansas financial advisor Travis Riggs (CRD# 4334801) has received multiple investor complaints concerning allegedly high fees. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Equitable Advisors broker is currently registered as an investment advisor with Private Advisor Group.

Mr. Riggs’ BrokerCheck report discloses six investor complaints. The most recent, filed in December 2023, alleges that as a representative of Equitable Advisors, he over-charged advisory fees. The pending complaint alleges damages of $64,781.68.

An earlier investor complaint, filed in December 2023, similarly alleged that he over-charged advisory fees while a representative of Equitable Advisors. The complaint alleged unspecified damages and was denied by the firm.

A third investor complaint, filed in May 2023, alleged “concerns with fees associated with their accounts.” The complaint reached a settlement of $23,732.11.

A fourth investor complaint, filed in August 2023, alleged that he charged excessive advisory fees. In November 2023 the complaint reached a settlement of $28,023.88.

A fifth investor complaint, filed in 2020, alleged that he recommended unsuitable investments. In 2022 the complaint reached a settlement of $42,500.

A fifth investor complaint, filed in 2020, alleged that as a representative of AXA Advisors, he recommended an unsuitable real estate investment trust and failed to properly inform the customer of the product’s risks. In 2022 the complaint reached a settlement of $50,000.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Travis Riggs holds 23 years of securities industry experience. Based in Bentonville, Oregon, he has been registered as an investment advisor with Private Advisor Services since May 2023. He was previously registered with Equitable Advisors (Bentonville, Arkansas; 2001-2023). His credentials include the passage of three securities industry qualifying examinations: 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. He is licensed in Arkansas and Texas. (Information current as of March 5, 2024.)

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