Edward Rudiger: $1.2mm Complaint Against Reid & Rudiger Advisor

New York City financial advisor Edward Rudiger (CRD# 2118724) has received multiple investor complaints alleging that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Reid & Rudiger.

Mr. Rudiger’s BrokerCheck report discloses several investor complaints. The most recent, filed in 2023, alleges that as a representative of Reid & Rudiger, he breached his fiduciary duty, recommended unsuitable investments, breached contract, and generated unfair commissions. The pending complaint alleges damages of $50,000.

A second investor complaint, filed in 2023, similarly alleged that as a Reid & Rudiger representative, he breached his fiduciary duties, breached contract, made unsuitable investment recommendations, and charged unfair commissions. The pending complaint alleges damages of $1.2 million.

A third investor complaint, filed in 2022, alleged that he executed unauthorized transactions, recommended unsuitable products, and engaged in excessive trading. The pending complaint alleges unspecified damages.

A fourth investor complaint, filed in 2022, alleged that he charged excessive commissions and made unauthorized trades. In 2023 the complaint reached a settlement of $15,000.

Reid & Rudiger’s website describes Mr. Rudiger’s background and experience as one of the firm’s co-founders. “He works closely with many of the firm’s clients in selecting equity and debt investments that meet their investment objectives,” it explains. “Mr. Rudiger has held various positions over the years at Reid & Rudiger. As Sales Manager, he mentored and trained employees from entry level to executive level in developing client relationships while nurturing and growing Reid & Rudiger. He also served as CCO, where he developed the firm’s highly regarded compliance program.”

According to the Financial Industry Regulatory Authority, Edward Rudiger holds 30 years of securities industry experience. Based in New York City, he has been registered as a broker with Reid & Rudiger since 1999. His past registrations include Nichols Safina Lerner (1994-1998) and Gruntal & Company (1992-1994). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Investment Banking Registered Representative Examination, or Series 79TO; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 44 state licenses. (Information current as of September 1, 2024.)

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