Jeffrey Higgins Allegedly Recommended Unsuitable Investments

Jeffrey Higgins (CRD #: 2871443), a broker registered with Western International Securities, is facing an investor dispute. This disclosure appears in his BrokerCheck record, accessed on August 24, 2023. Details regarding the dispute are provided below. 

On June 9, 2023, an investor alleged that Jeffrey Higgins recommended unsuitable investments and made misrepresentations and omissions of material fact. The investor is seeking $210,000. 

FINRA Rule 2111 – Unsuitable 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, and financial goals. 

• Investments can be unsuitable because they are high-risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means the broker executed an excessive number of trades. The number of trades increases the transaction fees, and these fees cut into the returns for the investor. 
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration to recover their losses.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

Background Information 

Jeffrey Higgins has passed the following exams:

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

Jeffrey Higgins has registered as a broker in 23 states and is a registered investment adviser in California and Oregon. 

He has registered with the following firms: 

• Western International Securities (CRD #: 39262) 
• Financial West Group (CRD #: 16668) 

Kurta Law Can Help

If you worked with Jeffrey Higgins and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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. The firm only earns a fee if our securities attorneys recover money on your behalf.