As a financial analyst and writer, I’ve seen my fair share of industry ups and downs, but the current buzz around Viqas Akhtar in Miami’s finance circle definitely piqued my interest. As an advisor at B. Riley Wealth Management, Akhtar’s reputation is now being scrutinized because he’s faced with serious allegations of churning—excessive trading that’s stirred up plenty of concern among his clients and peers.
While serving at National Securities Corporation, Akhtar allegedly was involved in practices now under investigation. The watchdog in such situations is none other than the Financial Industry Regulatory Authority (FINRA), whose job it is to ensure transparency and fairness. Right now, they’re digging deep into the allegations against Akhtar.
Examining Repeated Complaints
Unfortunately, this isn’t the first time Akhtar has been the subject of complaints, prompting renewed scrutiny of his work. The most recent accusation from July 2023 involved suggestions of unsuitable investments and a high volume of trading while at National Securities Corporation, although the specific damage caused remains to be seen.
History shows more red flags—a financial advisor should be a beacon of trust. In 2020, for instance, Akhtar faced a similar situation where he was accused of recommending an inappropriate private placement. The matter was settled for $37,500 a year later. Then, lightning struck twice in the same year with another accusation and identical settlement amount. Despite these issues, Akhtar has maintained his innocence throughout.
Delving into a Varied Track Record
If we travel back to 2019, another complaint of unauthorized trading emerges, which was resolved with a $9,539 payment to the accuser. As I see it, these occurrences chip away at Akhtar’s professional image.
FINRA’s records highlight Akhtar’s 13 years in the field. Based out of Miami since July 2022 with B. Riley Wealth Management, his career spans roles at National Securities Corporation, VFinance Investments, and even Rockwell Global Capital. He’s passed numerous industry exams and is licensed in 24 states.
Finding Help Amidst Financial Conflict
If you find yourself in the middle of a financial tangle, remember that firms like Haselkorn & Thibaut are there to help untangle the mess. Don’t hesitate to call them at 1-800-856-3352 for a free and private chat about your options.
To me, Akhtar’s case somewhat dulls the luster of Miami’s otherwise vibrant finance sector. It raises the critical question, as Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.” The industry is indeed watching keenly to see the outcome of this situation.
For those interested in the particulars of Viqas Akhtar at National Securities Corporation, you can verify his regulatory history by checking his [FINRA BrokerCheck record](https://brokercheck.finra.org/).
Here’s a sobering fact: Surveys show that financial advisors who are disciplined for misconduct are more than five times as likely to engage in new misconduct as the average advisor. Always do your due diligence and remember, you can always check an advisor’s FINRA [CRM number](https://brokercheck.finra.org/) to ensure their credibility.
As this case unfolds, anyone involved with finance in Miami or otherwise should be paying close attention. It’s a reminder of the delicate balance professionals must maintain between achieving success and upholding ethical standards. I’ll be keeping an eye on the developments and sharing my insights to help you stay informed.
