Securities Lawyers Blog
Previously financial advisor Jay Riggs (Riggs), previously employed by brokerage firm Emerson Equity LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,000,000.00 on December 15, 2020.
Claimant alleges that Mr. Riggs recommended private placements and Non-Traded REITs that were not suitable.