William Heiden, formerly with Wedbush Securities and Morgan Stanley, Subject of FINRA Complaint

Have you lost money with financial advisor William Heiden of Newport Beach, California?  We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against William Mark Heiden. FINRA was investigating William Heiden after he was alleged to have engaged in unauthorized transactions with two elderly customers.

William Heiden was a financial advisor and registered representative of Wedbush Securities from August 2013 to June 2018.  He also was affiliated with Morgan Stanley in from 2007 to August 2013.  He worked at branch offices in Newport Beach, California.   Heiden has also been the subject of 14 customer complaints, many raising allegations related to the sales of oil and gas investments such as limited partnerships and master limited partnerships (MLPs).

Brokerage firms like Wedbush Securities and Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout California.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Morgan Stanley.

Click to view:  Heiden, William BrokerCheck 1.25.19

Click to view:  Heiden, William FINRA Complaint

If you lost money with William Heiden, Morgan Stanley, or Wedbush Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.