B. Riley Wealth Management is under increasing scrutiny following a pattern of regulatory violations, investor complaints, and allegations of broker misconduct. With 23 total disclosures—including 18 regulatory events and multiple arbitration claims—the firm’s track record raises red flags for clients who trusted their financial advisors to act in their best interest.
If you or someone you know has suffered significant investment losses working with B. Riley Wealth Management or another brokerage firm, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in securities fraud cases and will help to guide you through the process with a free consultation to determine whether your losses are the result of actionable misconduct.
B. Riley Regulatory History and Misconduct Allegations
As a dual-registered broker-dealer and investment adviser, B. Riley Wealth Management (CRD#: 2543) operates under multiple layers of regulation. Its past disciplinary actions reveal a concerning pattern of supervisory lapses and potential investor harm.
FINRA Sanctions and Supervisory Failures
In one notable case, FINRA sanctioned B. Riley for failing to properly supervise its advisors’ recommendations involving 529 college savings plans between 2013 and 2018. This oversight failure resulted in disciplinary action and highlights weaknesses in the firm’s compliance infrastructure.
- The firm has accumulated 23 disclosures, a troubling number compared to industry peers.
- Supervisory failures have included lax oversight of high-risk investments and inadequate client protection.
These events underscore broader concerns about whether B. Riley is fulfilling its obligation to monitor its representatives and safeguard investor interests.
Broker Misconduct and Risky Recommendations
Several brokers affiliated with B. Riley have been the subject of disciplinary actions. Some have reportedly falsified account statements and steered clients into risky products such as GWG L Bonds—a product later linked to substantial investor losses.
- GWG Holdings defaulted on $13.6 million in interest payments before filing for Chapter 11 bankruptcy in 2022.
- Advisors allegedly marketed these products as low-risk despite their speculative nature and lack of liquidity.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
Investor Complaints and Legal Recovery Options
Clients of B. Riley Wealth Management have reported a range of issues, from unsuitable investment recommendations to fraudulent statements. These complaints raise the possibility of legal claims against the firm and its advisors.
Common Claims Filed by Investors
If you experienced losses while working with B. Riley, your legal options may include:
- Negligence: When a financial advisor fails to adhere to industry standards or adequately assess client suitability.
- Breach of fiduciary duty: Especially applicable when B. Riley acted as an investment advisor and failed to act in your best interest.
- Violations of consumer protection laws: If misleading sales tactics or hidden risks contributed to your losses.
These claims are typically pursued through arbitration, which is the standard forum for resolving disputes with brokerage firms.
Documentation and Arbitration Process
Investors considering a claim should begin by gathering key documentation, including:
- Account statements showing the investments in question
- Emails or notes from discussions with your advisor
- Offering documents or promotional materials you were given
This evidence supports your claim and helps legal professionals build a compelling case for recovery, which may include lost funds, interest, and potentially punitive damages depending on the nature of the misconduct.
How Meyer Wilson Werning Helps B. Riley Investors
At Meyer Wilson Werning, we represent investors who’ve been harmed by misconduct, misrepresentation, or supervisory failures at brokerage firms like B. Riley Wealth Management. If you were sold high-risk investments or experienced losses due to unsuitable advice, we may be able to help you recover your losses through arbitration or legal action.
Our team brings decades of experience navigating securities law, investment fraud, and broker accountability. We can evaluate your situation, help you understand your legal options, and pursue recovery on your behalf. Contact us today to begin your path to recovery.
Our lawyers are nationwide leaders in investment fraud cases.
Frequently Asked Questions
Why is B. Riley Wealth Management facing scrutiny?
B. Riley has 23 total disclosures, including 18 regulatory events and multiple investor complaints. Allegations include failure to supervise advisors, misleading sales tactics, and recommendations of risky, unsuitable investments.
What legal claims can B. Riley investors pursue?
Investors may have claims for negligence, breach of fiduciary duty, or consumer protection violations. These are typically resolved through FINRA arbitration rather than traditional court litigation.
How can Meyer Wilson Werning assist B. Riley investors?
We help investors recover losses caused by broker misconduct and poor supervision. Our team evaluates your case, assists with evidence gathering, and pursues recovery through arbitration or other legal channels.
Recovering Losses Caused by Investment Misconduct.
