Neal Hayias Subject of REIT Dispute

Neal Hayias (CRD #: 854703), a broker registered with Equitable Advisors, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 16, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On August 14, 2024, an investor alleged that Neal Hayias recommended an unsuitable REIT. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Rule 2111 also requires brokers to consider the following investor characteristics: 

• Investment goals
• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses 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.

Background Information 

Neal Haiyas has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination
• Series 22TO Direct Participation Programs Representative Examination 
• Series 6TO Investment Company Products/Variable Contracts Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 1 Registered Representative Examination 
• He has registered with the following three firms: 
• Equitable Advisors (CRD #: 6627) 
• Mony Securities Corporation (CRD #: 4386) 
• The Mutual Life Insurance Company of New York (CRD #: 2873) 

Kurta Law Can Help 

If you worked with Neal Haiyas and you 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.