John Bassmaji Allegedly Made Unsuitable Recommendation to Liquidate Stock

John Bassmaji (CRD #: 6448660), a broker registered with Fidelity Brokerage Services, allegedly gave an unsuitable recommendation, according to his BrokerCheck record, accessed on June 22, 2023. Investors may have also engaged his services through Fidelity Personal and Workplace Advisors. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On April 21, 2023, an investor filed a dispute alleging that John Bassmaji made an unsuitable recommendation to liquidate a stock, resulting in a tax event. The client seeks $150,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must consult the investor’s profile, which describes their age, tax status, and other information.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

John Bassmaji has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

John Bassmaji is a registered broker in 22 states and a registered investment adviser in Illinois and Texas.

He has also worked for Strategic Advisers (CRD#:104555) and J.P. Morgan Securities (CRD#:79).

Kurta Law Can Help

If you worked with John Bassmaji and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.