Title goes here

Financial Industry Regulatory Authority BrokerCheck contains a number of alarming concerns surrounding the sales practices of financial advisor Kirk Badii (CRD#: 5829768, Los Angeles, California). In summary, five investors brought lawsuits or complaints about the broker, who worked for Cantella (2018 to 2020), Raymond James (2018) and UBS Financial Services (2012 to 2018). Also, Badii left two securities firms for alleged infractions. Let’s take a look at these troubling disclosures.

UBS Financial Services Client Suggests That Kirk Badii Sold Unsuitable, Illiquid Private Equity Funds

Evidently, a client of UBS Financial Services Inc. took aim at Kirk Badii in April 2020. First of all, Badii allegedly recommended for the client to invest in alternative investments including private equity funds. These investments seemingly went against the client’s investment objectives or risk tolerance. It seems that from July 2015 to August 2018, Badii caused the client to purchase and sustain losses on those investments. In fact, the client suggested that losses totaled $867,602. Not only that, but the client indicated that the value of the alternative investments eroded to nothing because of its illiquid nature.

Badii Allegedly Sells Unsuitable REITS

Notably, a second UBS Financial Services client took issue with Kirk Badii’s sales practices in April 2020. It appears as though Badii had the client purchase unsuitable REITs in April 2018 to August 2018. These investments were allegedly unsuitable for various reasons including the client’s age and the fact that the investments could not be liquidated. For this reason, the client demanded compensation. This matter is denied by UBS.

Client Indicates That Investments Kirk Badii Sold Were Not Appropriate

Also, a client of UBS Financial Services brought a complaint to the firm’s attention in January 2020. Apparently, Kirk Badii was supposed to put the client in conservative investments but Badii did the opposite. Allegedly, the broker put the client in a hedge fund which was not suitable. Also, the client supposedly did not get transparency from Badii for what would be done with his money. However, Badii and UBS Financial denied this client’s complaint.

UBS Disaffiliates With Badii

Notably, FINRA indicates that Badii no longer works for UBS Financial Services. In 2018, the firm disaffiliated with him for not complying with its policies. Did you experience losses because of securities broker Badii? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. The firm has recovered millions of dollars for investors who have suffered losses due to the misconduct of financial advisors and securities brokers. Soreide Law Group represents clients on a contingency fee basis and advances all costs.