Michael Heck Allegedly Misrepresented Variable Annuities

Michael Heck (CRD #: 1047484), a broker formerly registered with Equitable Advisors, allegedly made misrepresentations, according to his BrokerCheck record, accessed on March 5, 2025. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On January 3, 2025, an investor alleged that Michael Heck failed to disclose fees and made misrepresentations in relation to a variable annuity the client purchased in 2020. They further alleged that it was an unsuitable investment recommendation. This dispute was denied by the firm.

A dispute filed on December 22, 2015, similarly alleged that Michael Heck misrepresented a variable annuity in 2013. The firm denied this dispute as well.

Investors should be aware, however, that firms can deny disputes without an external review. You may be able to recover damages after a denial by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. Misrepresenting an investment’s risks, requirements, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile includes characteristics such as their age, tax status, risk tolerance, financial goals, and investing experience.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Michael Heck has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Direct Participation Programs Representative Examination – Series 22
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

He has also worked for Equitable Advisors (CRD#:6627) and The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with Michael Heck 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. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.