The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Brian Rieman. According to his publicly available FINRA BrokerCheck report, Brian Rieman has been the subject of multiple customer disputes.

Brian Rieman is a New Jersey based securities broker. He has worked in the securities industry for eighteen years. He has spent his entire career registered with Hennion & Walsh, Inc.

The Allegations

  • In November 2016, customers alleged Brian Rieman made material misrepresentations that resulted in poor performance. This case was settled for $44,055 in damages.
  • In February 2018, a customer alleged that Brian Rieman made unsuitable product recommendations. This case is currently pending. The customer is seeking $230,000 in damages.
  • In June 2018, a customer alleged that Brian Rieman made unsuitable recommendations. This case is currently pending.
  • In July 2018, another customer alleged that Brian Rieman made unsuitable recommendations. This case was settled for approximately $15,000 in damages.
  • Later in July 2018, yet another customer alleged that Brian Rieman recommended unsuitable investments. This case is currently pending. The customer is seeking $52,530 in damages.

Unsuitable Recommendations

Not every investment is suitable for every investor. Certain investments are unsuitable for investors based on factors like the investor’s age, financial situation, investment objectives, and more. It is the job of the securities broker to determine an investor’s suitability based on these factors. It is imperative that brokers conduct the necessary due diligence that is required to determine suitability. When investors become invested in securities that are unsuitable for them, they can experience significant financial harm.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Brian Rieman, please contact Oakes & Fosher for a free and private consultation.