Transamerica Financial Advisors

There are Recent Customer Complaints with Broker Susan Duke in Firm Transamerica Financial Advisors, Inc

September 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Susan Duke (Duke), previously associated with Transamerica Financial Advisors, Inc, has at least one disclosable event. These events include one customer complaint, alleging that Duke 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 $25,000.00 on April 24, 2023.

Claimants allege they were placed in risky speculative investments that were unsuitable for their investment portfolios.

Broker Lickhai Quach in Transamerica Financial Advisors, Inc Firm Has Customer Complaint

August 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lickhai Quach (Quach), previously associated with Transamerica Financial Advisors, Inc, has at least one disclosable event. These events include one regulatory event, alleging that Quach recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on October 24, 2023.

Respondent violated sections 11-306, and 11-301(2) and (3) of the Maryland Securities Act by, among other things, soliciting a loan from a customer, the proceeds of which were used for his or his wife’s personal benefit and/or invested in his wife’s business, engaging in the borrowing of money from a customer in violation of FINRA Rule 3240 and Transamerica’s policies and procedures, and failing to disclose the risks associated with the loan and investment in Quach’s wife’s business. Respondent offered and sold an unregistered security in violation of section 11-501 of the Maryland Securities Act.

Broker Benny Ongkobudidjojo in Transamerica Financial Advisors, LLC Firm Has Customer Complaint

August 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Benny Ongkobudidjojo (Ongkobudidjojo), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ongkobudidjojo 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 $225,000.00 on November 27, 2023.

Client alleges rep failed to recommend investments or an investment strategy appropriate for the client.

There are Recent Customer Complaints with Broker John Woo in Firm Transamerica Financial Advisors, LLC

June 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Woo (Woo), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Woo recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on February 07, 2024.

Claimant alleges representative failed to assist client, her deceased spouse, with making premium payments and avoid lapse of coverage.

Broker Abtin Bashirazami in Transamerica Financial Advisors, LLC Firm Has Customer Complaint

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Abtin Bashirazami (Bashirazami), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bashirazami recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $241,666.58 on June 18, 2024.

Claimant alleges representative recommended that claimant liquidate his 529 savings and use an inheritance to fund a IUL policy. Claimant also alleges that represented misrepresented the IUL policy.

Broker Chester Palid in Transamerica Financial Advisors, LLC Firm Has Customer Complaint

March 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Chester Palid (Palid), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Palid recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $165,460.00 on September 06, 2024.

Customer alleges his writing agent was negligent while discussing certain features of the product he purchased. This representative did not write the policy but was the upline of the writing agent at the time of sale. This representative inherited this customer in 2024 and did not communicate with him during the time of sale.

Broker James Lucas in Transamerica Financial Advisors, Inc Firm Has Customer Complaint

March 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Lucas (Lucas), previously associated with Transamerica Financial Advisors, Inc, has at least one disclosable event. These events include one customer complaint, alleging that Lucas recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $165,460.00 on September 06, 2024.

Customer alleges that the representative informed him that his purchase amount would double in 10 years. The customer contacted the representative after confirming that this did not occur at the 10-year mark.

Broker Chin yu Hsieh in Transamerica Financial Advisors, LLC Firm Has Customer Complaint

March 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Chin yu Hsieh (Hsieh), currently associated with Transamerica Financial Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Hsieh recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $65,000.00 on October 14, 2024.

Customer alleges that representative requested unauthorized trades in her account in August 2024.

FINRA Bars Broker Tracy Wengert Over Trading Customer Accounts Outside His Brokerage Firm

November 20, 2015 | by Staff Attorney

The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Tracy Wengert (Wengert) (FINRA No. 2015044289201) resulting in a bar from the securities industry alleging that Wengert failed to provide FINRA staff with information and documents requested. The failure to provide those documents and information to FINRA resulted in an automatic bar from the industry. FINRA’s document requests related to the regulators investigation into claims in February 2015, FINRA enforcement began investigating allegations of misconduct by Wengert in that he opened brokerage accounts outside of the Transamerica Financial Advisors, Inc. (Transamerica) on behalf of customers and placed unsuitable trades in these accounts.

FINRA’s investigation appears to stem from Wengert’s termination from Transamerica in January 2015. At that time Transamerica filed a Form U5 termination notice with FINRA stating in part that the firm discharged Wengert under circumstances where there was allegations that Wengert was alleged to have managed a client account on a discretionary basis without approval or oversight through the firm.

Wengert entered the securities industry in 1999. From April 2002 until January 2012, Wengert was associated with World Group Securities, Inc. Thereafter, from January 2012 until February 2015, Wengert was associated as a registered representative with Transamerica.

Broker Spotlight: John J. Quintero Subject to Several Customer Complaints

January 2, 2015 | by Staff Attorney

The attorneys of the law offices of Gana Weinstein LLP are investigating a series of recently filed complaints against broker John Quintero (Quintero) who is currently a registered representative with Transamerica Financial Advisors. In January 2014, an investor filed a complaint alleging that Quintero misrepresented the premiums paid on a variable universal life insurance policy (VUL). Specifically, the customer claimed that Quintero stated that the premiums paid would be a tax differed investments and that further the sub-account investments were unsuitable.

VULs are complex insurance and investment products that investors must fully understand prior to investing. One feature of a VUL policy is that the investor can allocate a portion of his premium payments to a separate sub-account to invest and grow through mostly mutual fund investments. Monthly charges are assessed for the life insurance policy including a cost of insurance charge and administrative fees all of which are deducted from the policy’s cash value. The investor can suffer losses are receive gains based upon the performance of the sub-account investments. However, the VUL policy can terminate or lapses if at any time the net cash surrender value is insufficient to pay the monthly cost deductions. Upon termination of the policy, the remaining cash value becomes worthless.

Given the costs and premiums involved in purchasing VULs, brokers must be careful to ensure that the recommendation to invest in VULs is suitable for the client. In some cases, investors do not realize the huge expense of these policies and have no way to continue to cover the premiums. When this happens the policy could lapse over time.