Virgil Arthur Biggs, of Saranac, Michigan, a stockbroker registered with Avantax Investment Services Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $80,000.00 in damages based upon allegations that Biggs made unsuitable recommendations of over-the-counter equities and direct investments when Biggs was associated with Avantax Investment Services Inc. FINRA Arbitration No. 21-02727 (March 6, 2023).
This is not the first time that Biggs has been referenced in a customer initiated investment related dispute concerning Biggs’ conduct in the securities industry. FINRA Public Disclosure shows that Biggs is also referenced in a customer initiated investment related complaint filed on October 26, 2006, in which the customer requested $6,137.11 in damages resulting from underperforming variable annuities and mutual funds sold by Biggs during the time that he was associated with H.D. Vest Investment Securities Inc. This complaint was denied by the securities broker dealer.
Biggs has been associated with Avantax Investment Services Inc. as a stockbroker since November 12, 1987, and associated with Avantax Advisory Services as an investment advisor representative since July 6, 2010.