Mercer Hicks, with Southeast Investments N.C., Subject of FINRA Complaint
Have you lost money with financial advisor Mercer Hicks III? We are investigation allegations made about Mercer Toby Hicks III from Pinehurst, North Carolina. FINRA (the Financial Industry Regulatory Authority) seeks to punish Hicks. FINRA alleges that Hicks recommended the purchase of speculative non-traded REITs (real estate investment trusts) and BDCs (business development companies) to five senior customers, and that such were not suitable. FINRA also alleged that Hicks failed to do adequate due diligence into the REITs and BDCs
Mercer Hicks has been a financial advisor and registered representatives of Southeast Investments N.C. from April 2014 to the present. He has worked in a branch offices in Pinehurst and Charlotte, North Carolina. Toby Hicks has also been terminated by three prior brokerage firms, and he’s been the subject of five tax liens. Hicks operates Hicks Financial Group.
Brokerage firms like Southeast Investments N.C. 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; Seattle, Washington; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including North Carolina. Our attorneys have represented over one thousand investors against many brokerage firms in the past.