Last Updated: February 2025 (Bloomfield Hills, MI)
National securities fraud lawyers at Patil Law, P.C. are investigating former FSC Securities Corporation financial advisor Heather R. Oneill (CRD #2135206) regarding allegations of misappropriation of client funds. The investigation stems from a customer complaint filed in December 2024 alleging serious misconduct in the handling of advisory accounts.
Critical Insights About Bloomfield Hills Financial Advisor Heather Oneill
- Advisor Name: Heather R. Oneill
- CRD: 2135206
- Location: Bloomfield Hills, MI
- Current Employer: Beacon Pointe Advisors, LLC (as Managing Director)
- Previous Employer: FSC Securities Corporation (1998-2023)
- Classification: Previously Registered Representative & Investment Adviser Representative
- Can Heather Oneill be sued in FINRA arbitration: Yes
- Customer Disputes: One complaint
- Professional Qualifications: Series 7, 24, 53, 63 licenses
- Professional Designations: CFP® (Certified Financial Planner), ChFC (Chartered Financial Consultant)
- Years of Experience: Since 1991
- Current Status: Active with Beacon Pointe Advisors
Details Of Current Investigation
A customer complaint filed in December 2024 alleges:
- Misappropriation of client funds
- Misconduct involving equity accounts
- Advisory account irregularities
- Damages alleged: $250,000
- Status: Denied by firm in January 2025
Analysis Of Alleged Misconduct
The allegations raise serious concerns about:
- Asset management practices
- Client fund handling
- Account supervision
- Fiduciary duty compliance
- Advisory account oversight
- Client protection measures
- Regulatory compliance
Regulatory Framework And Investor Protection
SEC Regulation Best Interest (Reg BI) requires:
- Protection of client assets
- Proper account management
- Accurate recordkeeping
- Client authorization for transactions
- Full disclosure of activities
- Prevention of misappropriation
FINRA Rules And Their Significance
FINRA Rule 2150 mandates:
- Proper handling of customer funds
- Segregation of client assets
- Accurate accounting
- Prevention of conversion
- Protection of customer property
- Clear authorization procedures
Professional Background
Ms. Oneill’s career includes:
- Entry into securities industry in 1991
- Extensive tenure at FSC Securities (1998-2023)
- Previous positions at Linsco/Private Ledger Corp. and American Express Financial Advisors
- Multiple professional designations
- Supervisory experience (Series 24 and 53 licenses)
Red Flags For Investors
- Recent customer complaint
- Allegations of misappropriation
- Substantial damage claim
- Advisory account issues
- Fund handling concerns
- Authorization questions
- Client asset protection concerns
- Recent firm transition
Implications For Current And Former Clients
Current and former clients should:
- Review account statements
- Verify transactions
- Check asset positions
- Document communications
- Monitor account activity
- Examine fee charges
- Verify authorizations
- Consider independent review
- Assess portfolio changes
- Contact regulatory authorities if concerned
Patil Law P.C. Will Help You Recover Your Investment Losses
If you or someone you know has concerns about how your investments were handled by Ms. Oneill, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
