Equitable Advisors

Broker Rodrigo Arauz in Equitable Advisors, LLC Firm Has Customer Complaint

January 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rodrigo Arauz (Arauz), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Arauz recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on November 01, 2021.

The client alleges the RR misrepresented a variable life policy sold in 2019.

There are Recent Customer Complaints with Broker James Simpson in Firm Equitable Advisors, LLC

January 17, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Simpson (Simpson), previously associated with Equitable Advisors, LLC, has at least 3 disclosable events. These events include 2 customer complaints, one regulatory event, alleging that Simpson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on November 19, 2021.

Without admitting or denying the findings, Simpson consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA in connection with an investigation into whether he misappropriated client funds or made unsuitable recommendations.

Broker Anthony Didonna in Equitable Advisors, LLC Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Didonna (Didonna), previously associated with Equitable Advisors, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Didonna recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 14, 2021.

Respondent DiDonna failed to respond to FINRA requests for information.

There are Recent Customer Complaints with Broker Kevin Klickna in Firm Equitable Advisors, LLC

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Klickna (Klickna), previously associated with Equitable Advisors, LLC, has at least 4 disclosable events. These events include 3 customer complaints, one regulatory event, alleging that Klickna recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 04, 2023.

Without admitting or denying the findings, Klickna consented to the sanctions and to the entry of findings that he forged a customer’s electronic signature on an annuity account application without the customer’s consent and affixed the customer’s signature on a rollover form. The findings stated that the customer eventually noticed the forgery on the rollover form and complained to Klickna’s member firm. As a result of the documents being firm records, Klickna caused the firm to maintain inaccurate books and records.

There are Recent Customer Complaints with Broker David Lopez in Firm Equitable Advisors, LLC

December 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Lopez (Lopez), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lopez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on January 14, 2022.

Client alleges the RR misrepresented the tax implications of surrendering their annuity in 2019.

Broker Sailesh Mehta in Equitable Advisors, LLC Firm Has Customer Complaint

December 18, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sailesh Mehta (Mehta), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Mehta recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on November 18, 2025.

Customer alleges RR misrepresented VA policy sold in 10/2025.

There are Recent Customer Complaints with Broker Michael Biggs in Firm Equitable Advisors, LLC

December 18, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Biggs (Biggs), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Biggs recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on November 11, 2025.

Client alleges VUL policies sold in 1989 were misrepresented by RR.

Broker David Lopez in Equitable Advisors, LLC Firm Has Customer Complaint

December 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Lopez (Lopez), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lopez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on January 14, 2022.

Client alleges the RR misrepresented the tax implications of surrendering their annuity in 2019.

There are Recent Customer Complaints with Broker William Baffuto in Firm Equitable Advisors, LLC

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Baffuto (Baffuto), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Baffuto recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $15,412.00 on April 20, 2022.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts.

Broker Paul Schappert in Equitable Advisors, LLC Firm Has Customer Complaint

November 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Paul Schappert (Schappert), previously associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schappert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 23, 2022.

POA on behalf of the client alleges funds within the client’s investment contract purchased in 2013 and a variable annuity purchased in 2020 were unsuitable for her needs and led to a large tax implication.