Brian Dreier Subject of a Six-Figure Dispute

Brian Dreier (CRD #: 2462344), a broker registered with Cambridge Investment Research, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 14, 2024. Investors may have engaged his services via Heartland Financial Advisors 

Investor Allegations 

On April 8, 2024, investors alleged that Brian Dreier was negligent in recommending that clients should use illiquid REITs for their retirement portfolios. Investors also alleged the representative misrepresented that the investments were safe. The investor is seeking $268,000. 

FINRA Rule 2111 – Unsuitable, Illiquid Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Brokers must also consider the investment time horizon and the investor’s liquidity needs – illiquid, long-term investments often do not suit a client’s best interests. 

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

What Are REITs? 

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without being directly involved in property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are especially risky because they are not traded on the public exchange, making them difficult or impossible to sell. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

Background Information 

Brian Dreier has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 17 states and is a registered investment adviser in Illinois and Texas. 

During his 29 years of experience, Brian Dreier has registered with eight firms. These are the four most recent: 

• Cambridge Investment Research (CRD #: 39543) 
• TransAmerica Financial Advisors (CRD #: 16164) 
• TransAmerica Fianncial Advisors (CRD #: 3600) 
• MML Investors Services (CRD #: 10409) 

Kurta Law Can Help 

If you have worked with Brian Dreier and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.