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Investors Allege Ronald Eiger Recommended Unsuitable REITs

May 17, 2023 Unsuitable Investments

Ronald Eiger (CRD #: 1767584), a broker registered with Chelsea Financial Services, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 12, 2023. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 10, 2023, multiple investors filed a dispute alleging that Ronald Eiger made unsuitable recommendations of real estate investment trusts (REITs). They seek $50,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must examine the information contained in an investor’s profile, such as their tax status, age, and other investments.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

What are REITs?

Real estate investment trusts (REITs) allow investors to pool their funds together in a portfolio of real estate and earn returns without managing the properties themselves. However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

Background Information

Ronald Eiger has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Ronald Eiger is a registered broker in Florida and the Virgin Islands.

He has also worked for the following firms:

  • Kovack Securities (CRD#:44848)
  • J.P. Turner & Company (CRD#:43177)     
  • JHS Capital Advisors (CRD#:112097)
  • Empire Financial Group (CRD#:28759)
  • FSC Securities (CRD#:7461)
  • Fairchild Financial Group (CRD#:21404)
  • Corporate Securities Group (CRD#:11025)
  • J. W. Gant & Associates (CRD#:7963)

Kurta Law Can Help

If you worked with Ronald Eiger and you have concerns about your investments, please contact us today at 877-600-0098 or 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.