Broker and financial advisor Abraham Heimann (CRD #1315922) of Cetera Advisors
is facing customer disputes from three clients that were filed with the
Financial Industry Regulatory Authority (FINRA) over several allegations
of misconduct by Heimann.
The alleged violations at issue in the customer disputes include breach
of fiduciary duty, negligence, failure to diversify the portfolio, breach
of contract, misrepresentation, fraud, unauthorized trading, and investment
unsuitability. The types of investments involved include common and preferred
stock, oil & gas, penny stocks, and investments in the energy and
Heimann is not currently a registered broker. His most recent registration
was with Cetera Advisors LLC in Alpharetta, Georgia from 2013 through
2016. He was with Oppenheimer & Co. Inc. in Atlanta, Georgia from
2002 to 2013.
Brokers Can Avoid Investment Unsuitability by Knowing the Customer
All brokers have an obligation to learn enough about you and your finances,
including your income and assets, to know which investments are appropriate for you.
Investment unsuitability becomes a factor when a broker goes out on a limb
and makes investments without considering your current financial state
and your tolerance for risk.
A broker should take into account your reasons for investing and what your
investment goals are. Your future financial and situational needs are
also factors that a broker should learn about in order to avoid investment
Just as life circumstances change, so do your investment needs. A broker
needs to continuously evaluate your situation because the investments
that suit you today could become less suited for you in the future.
If you have made investments with a stock broker and believe your investments
were negatively impacted because of investment unsuitability or other
types of investment fraud, reach out to our team at Meyer Wilson to receive a
free consultation from one of our experienced investment fraud attorneys.