One or more investors apparently complained about securities broker Abtin Bashirazami [CRD: 7526170, Columbus, Ohio], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Abtin Bashirazami joined Transamerica Financial Advisors LLC on April 1, 2022. Below, you can learn more about the client dispute involving this broker.
Particularly, on June 6, 2024, a Transamerica Financial Advisors LLC client filed FINRA Arbitration No. 24-01247 about Abtin Bashirazami. The client alleged that Bashirazami recommended using an inheritance and funds from a 529 savings plan to fund an index universal life insurance policy. The client further alleged that Bashirazami misrepresented the index universal life insurance policy. Because of this, the client allegedly sustained damages. Therefore, the client requested $241,666.58 in compensation from Transamerica Financial Advisors LLC or Bashirazami. Evidently, this arbitration is pending a resolution.
A misrepresentation of universal life insurance products by brokers or financial advisors occurs when a representative provides false, misleading, or incomplete information about a policy’s features, benefits, or risks. For instance, advisors might understate premium costs, exaggerate expected returns, or fail to explain how the policy’s value is affected by market conditions. These misrepresentations can lead investors to purchase insurance products that are not suitable for their financial goals or risk tolerance, resulting in unexpected expenses or financial losses.
Do you have concerns or questions regarding investments you made with Abtin Bashirazami? If so, contact Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country, represents clients through a contingency fee basis, and advances all costs. Bashirazami and any securities broker dealers / investment advisories Bashirazami worked for deny accusations of sales practice violations.
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