Norbert Filian Allegedly Misrepresented Liquidity of REIT

Norbert Filian (CRD #: 2998784), a broker registered with Equitable Advisors, allegedly misrepresented a REIT, according to his BrokerCheck record, accessed on June 27, 2022. If you want to know more about Norbert Filian’s conduct as a broker, read on.

Investor Dispute

On April 13, 2022, an investor alleged that Norbert Filian misrepresented the liquidity of a real estate investment trust (REIT) sold in 2014. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still seek out FINRA arbitration after a denial and potentially recover their funds.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other unethical tactics to influence investors’ decisions. This includes the misrepresentation and omission of relevant information, such as securities’ fees, limitations, or risks. 

What is a real estate investment trust?

A real estate investment trust (REIT) is a company that owns and manages real estate. Investors pool their funds into the REIT and generate returns without needing to manage any properties. However, REITs are illiquid and therefore unsuitable for many investors’ goals.

Background Information

Norbert Filian 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
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Norbert Filian is a registered broker and registered investment advisor in Florida, Illinois, and Indiana.

He previously worked for The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with Norbert Filian 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 and 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.