NI Advisors Review: Regulatory History & Complaints
NI Advisors (CRD #134502) is a FINRA-registered broker-dealer and SEC-registered investment adviser headquartered in Milpitas, California. The White Law Group reviews NI Advisors’ regulatory history, including a FINRA enforcement action, as well as complaints involving the firm’s registered representatives. If you have suffered investment losses while working with NI Advisors or one of its brokers, an experienced FINRA arbitration attorney may be able to help you evaluate your recovery options.
What Is NI Advisors?
NI Advisors (CRD #134502, SEC #8-66841) was formed in California in 2005 and has been registered with the SEC and FINRA since August 2005. The firm operates as both a broker-dealer and a registered investment adviser, and is currently registered in 35 U.S. states and territories. NI Advisors is not currently suspended by any regulator.
The firm is an introducing broker-dealer and clears transactions through Axos Clearing LLC. NI Advisors conducts 14 reported types of securities business, including equity and municipal securities brokerage, mutual fund sales, variable annuities, private placements, and investment advisory services. The firm also engages in non-securities business involving life, health, and property and casualty insurance.
NI Advisors Regulatory Sanctions
FINRA Enforcement Action (2013)FINRA reportedly found that NI Advisors and its principal allegedly failed to supervise, approve, or monitor the registered investment advisory activities of a representative who conducted 1,445 securities transactions through a registered investment adviser that was not affiliated with the firm. FINRA also reportedly found that the firm allegedly permitted several representatives to maintain registrations without conducting any securities or investment banking business on the firm’s behalf, and that the firm sold multiple 529 plans without registering with the Municipal Securities Rulemaking Board as required. The matter cited violations of former NASD Rules 1031(a), 1032(d), 2110, 3010, and 3040(c), FINRA Rule 2010, and MSRB Rules A-12 and G-3(b)(iii)(B).
Without admitting or denying the findings, NI Advisors and its principal consented to a censure and a joint and several fine of $13,750, of which $2,500 pertained to the MSRB rule violations. The matter was resolved through a FINRA Acceptance, Waiver and Consent (AWC) and is reported as final. This information comes directly from FINRA’s BrokerCheck system, a primary regulatory source.
Brokers Registered With NI Advisors
Investors researching NI Advisors should also review the disclosure history of individual brokers registered with the firm.
Brady Lipp (CRD #1359835). Brady Lipp has been registered with NI Advisors since 2025 and is reportedly the subject of a pending customer complaint alleging fraud and negligent supervision tied to his prior registration with Great Point Capital LLC.
Peter T. Po (CRD #3106974). Po was reportedly registered with NI Advisors in Cupertino, California, from 2015 to May 2024, and has since moved to Emerson Equity LLC. According to BrokerCheck, Po’s CRD report reflects roughly 30 disclosed customer disputes, a significant share of which allegedly involve GWG Holdings L Bonds recommendations later affected by the issuer’s Chapter 11 bankruptcy, as well as an “Employment Separation After Allegations” disclosure from Voya Financial Advisors in 2015 citing policy violations. Several of Po’s disputes stem from conduct alleged to have occurred while he was registered with NI Advisors. Under FINRA’s supervisory rules, a firm can be named in, and potentially held responsible for, claims arising from a broker’s conduct during the period the broker was registered with that firm, even after the broker has since moved to another firm.
Under FINRA rules, a brokerage firm can bear responsibility for supervising the conduct of its registered representatives, which may extend to NI Advisors depending on the circumstances of a given complaint.
FINRA Arbitration vs. Class Action: What’s the Difference?
Investors who lose money due to broker misconduct, unsuitable recommendations, or a firm’s failure to supervise generally pursue claims through FINRA arbitration rather than court litigation, since most brokerage account agreements require arbitration of disputes.
FINRA arbitration is typically faster and less expensive than a civil lawsuit, is decided by a panel of neutral arbitrators, and can result in recovery of losses, interest, and other damages. Class action lawsuits, by contrast, are reserved for cases where a large group of investors suffered similar harm and can take years to resolve, with individual recoveries often reduced by distribution across the class. In most cases involving a single investor’s losses at a firm like NI Advisors, an individual FINRA arbitration claim offers the more direct path to recovery.
NI Advisors Recovery Options: Free Case Review
If you believe you were sold an unsuitable investment, misled about risk, or harmed by a lack of supervision at NI Advisors, you may have a valid claim. Brokerage firms can be held responsible for unsuitable investment recommendations, misrepresentation or omission of material risks, failure to supervise their registered representatives, and breach of fiduciary duty. The White Law Group has recovered millions of dollars for investors nationwide through FINRA arbitration.
Frequently Asked Questions
Is NI Advisors a legitimate, registered broker-dealer?
Yes. NI Advisors has been registered with the SEC and FINRA since 2005 and is currently registered in 35 states. It is not currently suspended by any regulator.
Has NI Advisors faced any lawsuits?
There is no civil lawsuit currently reported against NI Advisors on BrokerCheck. The firm’s one reported regulatory disclosure is a 2013 FINRA arbitration and enforcement matter, resolved through an Acceptance, Waiver and Consent agreement, not a court lawsuit.
How do I check the background of a broker registered with NI Advisors?
Investors can search any NI Advisors representative, including Brady Lipp (CRD #1359835), Suihock Goy (CRD #2821380), or former NI Advisors broker Peter T. Po (CRD #3106974), using FINRA’s free BrokerCheck tool to review employment history, licensing, and any reported complaints or disclosures.
Contact The White Law Group
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle. If you suffered losses while working with NI Advisors or one of its brokers, contact us for a free consultation at (888) 637-5510 or through our contact page. Our FINRA arbitration attorneys represent investors nationwide on a contingency fee basis.
