Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Danniel Kazi (Kazi), previously associated with Allstate Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kazi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $20,415.00 on April 12, 2022.
Client’s family member alleged that the Representative’s recommended liquidation and subsequent investment with the proceeds were not in the client’s best interest based on the tax implications and the sales load. Following the firm’s review, the extent of the Rep’s disclosure of the taxable consequences was unclear. As a result, the matter was resolved through a settlement with the client for the reimbursement of tax consequence and the sales load. Payment to the client of $20,415 was completed on 7/8/22.